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Sciencebury’s stock is higher in anticipation of interest from Morrison’s loser by Reuters


ছবি Photo from Reuters file: April 30, 2016, Shopping trolley at a Sciencebury store in London, UK. Reuters / Blue Hall / File photo

LONDON (Reuters) – Shares of British supermarket group Sinsbury rose 3.7% on Monday on expectations that Softbank’s Fortress Investment, which was lost at Morrison’s auction, could draw attention to a larger UK grocery player.

Sciencebury stock was up 2.2 pence at 8..9 pence to 585 GM GMT, with a trading value of 6 .. billion billion pounds (১ 9.1 billion).

Britain’s No. 4 supermarket group, Fortress, lost Saturday’s shootout on behalf of Morrison, splitting one penny less than rivals Clayton, Dublier and Rice – 286 pence.

However, managing partner Joshua A. Pack indicated Fortress was interested in UK assets.

“The UK is an attractive investment environment from many perspectives, and we will continue to explore opportunities to help strong management teams grow their businesses and build long-term value,” he said in a statement.

A spokesman for Fortress declined to comment on ScienceBerry, which follows only market leader Tesco (OTC 🙂 when it comes to UK grocery sales.

Sciencebury had no immediate comment.

Shares of Sciencebury have risen 28% this year, driven by bid estimates.

It began in April when Czech billionaire Daniel Kretinsky raised his stake in Sciencebury to just 10% and was fueled by a bid battle for Morrison, and CEO Simon Roberts’ “Food First” strategy began to work.

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