MILAN, Oct 30 (Reuters) - Italian motorcycle maker Ducati shares soared more than 8 percent on Wednesday, helped by speculation that the group's controlling shareholder could sell its stake, leading to a takeover bid.
Ducati shares on Tuesday surged more than 8 percent to close at 1.829 euros on the Milan bourse. Turnover, at 2.6 million shares, was six times the 30-day average.
On the New York Stock Exchange, where the shares also trade, Ducati was up 7.5 percent at $17.85 at 1736 GMT.
"For many days there has been speculative buying and very high volumes on the shares, which had a good performance," said a trader. "There are rumours about a fund pulling out from the company, causing a change in the shareholding structure."
Another trader also cited speculation about a move by TPG Advisors, a U.S.-based fund that has held a 33.5 percent stake in Ducati since the group was listed in March 1999.
"If the fund sells its stake, there will be a forced takeover," the trader said.
Under Italian law any shareholder that increases its stake beyond a level of 30 percent must launch a full takeover offer. This did not apply to TPG because it was already a Ducati shareholder at the time of the company's initial public offering.
Ducati earlier this month said its revenues had risen one percent in the third quarter year-on-year, boosted by a 14 percent increase in revenues from sales of motorcycle-related products.
The Italian motorcycle maker, founded in 1926, sells its products in more than 40 countries, with biggest sales in Western European and North American markets.