M&S holds on to gains despite denial from Qatar - UPDATE

Takeover speculation surrounding High Street retailer Marks & Spencer (M&S) pushed the stock sharply higher on Monday, but an outright denial by rumoured Qatari bidders failed to dampen the share price in afternoon trade.

Takeover speculation surrounding High Street retailer Marks & Spencer (M&S) pushed the stock sharply higher on Monday, but an outright denial by rumoured Qatari bidders failed to dampen the share price in afternoon trade.

According to The Sunday Times, the Qatar Investment Authority, which already owns high-end department store Harrods and a 26% stake in Sainsbury, was said to be assembling a consortium of private-equity investors and had spoken to banks about financing a potential offer.

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