Citi estimates that the easiest way to fully integrate wind turbine maker Siemens Gamesa in Siemens Energy will involve buying shares.

Analysts at the financial institution write in a note that a share-based financing solution to the integration means that Siemens Energy won't have to shell out money, writes Bloomberg News.

Siemens Energy "likely wants a solution within the next couple of months ahead of their capital markets day in may," the analysts say.

Siemens Energy ramped up efforts to examine a full integration of the turbine maker in January when a downgrade and a share plunge exposed flaws in the current ownership structure.

The news was reported by Reuters citing sources familiar with the case.

According to the sources, Siemens Energy was working with advisors to look into options for how best to acquire the remaining 33 percent of the Siemens Gamesa shares, which Siemens Energy doesn't yet own.

Rumors concerning Siemens Energy's interest in acquiring the remaining shares in the Spanish wind turbine group have been swirling since May.

Siemens Gamesa was formed in 2017 to better compete in the fast-growing wind turbine market.

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