THE MAIL ON SUNDAY: State-owned Qatar Investment Authority reportedly planning a takeover bid / Trading soared on Thursday and Friday amid rumours of a move on M&S / Iconic High Street chain reported a 1.8 per cent slump in Christmas sales
Marks and Spencer is bracing itself for an £8billion takeover bid from Qatar, according to reports.
The state-owned Qatar Investment Authority is reportedly planning to make a move on the iconic High Street chain and is forming a consortium.
The Gulf nation's sovereign wealth fund already owns Harrods, which it bought in 2010, and has a 26 per cent share in Sainsbury's.
It also has a stake in Heathrow Airport.
The bid would equate to £5 a share and rumours in the City on Thursday and Friday helped fuel soaring trade.
The Qataris are attempting to form a consortium and have approached private equity houses and banks, according to 'senior City sources' quoted by The Sunday Times. » | Becky Evans | Sunday, March 17, 2013
