EMAP Shares Rise Over Anonymous Rumours Of Takeover Approaches

Shares in magazine publisher EMAP, which have fallen since circulation figures were released recently (see Sharewatch), today began to rise after a note was sent to the Independent at the weekend claiming that EMAP had received takeover approaches from other publishing groups. By 2:45pm today, EMAP stock was up 8p at 990p.

An EMAP source claims that the company has not received any takeover approaches, although officially EMAP is making no comment. It is believed that the note, sent anonymously, was part of a share-ramping campaign by an individual or group hoping to bolster the publisher’s falling stock price. The Independent reports that the faxed note named News International and United News & Media as having approached EMAP.

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