Shares in FTSE 250 serviced office operator IWG hit a near three-month high today (7 November) after Sky News reported that private equity firms including CVC Capital Partners could make a move for its digital arm.
IWG struck a £320m deal in March to merge its digital assets with Instant Group. At the time, the company said the enlarged business would ultimately be spun off or listed as a standalone entity, but did not confirm a timeframe for this.
The firm’s shares closed at 169.95p, up by 26.8% and at their highest since mid-August. The stock lost more than 40% of its value so far this year. IWG had not issued a stock market statement on the approach at the time of publication.
The FTSE 100 closed at 7,299, down by about 0.5%, while the FTSE 250 ended the day at 18,559, up by 1.2%.
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