Debenhams shares rose after a consortium led by Icelandic investor Baugur announced that it controlled a 4.87% stake in the company via derivatives. Daily Telegraph. The Times. The Guardian. Financial Times
Despite speculation that Baugur is planning a bid for the troubled department store group, City analysts played down the chances of a full bid, arguing that the investment was strategic. The shares closed up 2.50p at 143.75p.