Italian daily Il Sole 24 Ore reported in 17 November issue that family-owned Ferrero might be considering an offer with friendly investors for an alliance with UK confectioner Cadbury, the subject of a hostile bid from Kraft.

It is understood that the Italian chocolate maker has been approached by Mediobanca SpA about the partnership, the publication said.

Pietro Ferrero and his brother Giovanni, both chief executive officers, are said to both see a merger as an “opportunity”.

Ferrero declined to comment when contacted by just-food. Cadbury did not return a call for comment at time of press.