There has been no contact between the investor controlling a majority stake in Nivea maker Beiersdorf (BEIG.DE) and long-term admirer U.S. group Procter & Gamble (PG.N), a source close to the German company told Reuters on Wednesday. Shares in Beiersdorf had earlier gained as much as 2.9 percent on market speculation the Herz family was possibly willing to sell its 50.64 percent stake to P&G. By 1214 GMT shares had pared some gains, trading 1.5 percent higher. A spokesman for the Herz family investment vehicle Maxingvest earlier downplayed the speculation, saying the family's investment in Beiersdorf was a long-term one. [ID:nLDE7040G3]
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