British Land’s share price gained 5% – or 55p – to £11.47 on talk that a Saudi investor was trying to amass a 5% stake. The Times. The Daily Telegraph. Financial Times
Analysts said it was not beyond the bounds of possibility that billionaire Maan Abdulwahed al-Sanea or the Olayan family might look to take advantage of recent share price weakness to build a stake.
British Land shares have fallen 33% this year, while the FTSE Real Estate sector as a whole has lost a quarter of its value.
Trading in British Land shares had been heavy in recent sessions, and yesterday reached nearly 17m shares – 2.5 times the daily average.