CPP rises on takeover talks

Identity theft and credit card insurer CPP's recent rise continued on Thursday, following confirmation from Affinion Group that early stage discussions are taking place with a view to its taking over the company.

CPP revealed yesterday that it had received an initial, preliminary approach from US peer Affinion Group. Its shares have risen more than four-fold since October 25th, as news of the talks must have leaked out.

By 10.30 today, the shares were up a further 8.5p at 38.1p.

Affinion issued a brief statement: "Affinion Group, Inc. notes the announcement issued by CPPGroup Plc (CPP) on October 31st 2012, and confirms that its considerations are at a very preliminary stage and there is no certainty that any offer either will be made, or as to the terms on which any offer may be made.

"Affinion also confirms that there are no agreements between Affinion and CPP under which the company is required to acquire CPP."

CM