5/7/2008 6:35:00 PM
Carphone share rise sparks takeover rumours
Shares in Carphone Warehouse went up by almost 7% today as traders cited renewed speculation of a bid for the retailer according to reports from Reuters.
Throughout the last six months, both Vodafone and US company Best Buy, which has a 3% stake in Carphone and a joint American retail venture, have been linked with a bid for the company.
Carphone declined to comment.
‘Rumour is there will be a demerger announcement on Friday,’ said one London trader according to Reuters.
Carphone shares were up by nearly 20p today to around 300p.