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Finance & Stock Market News

Yell shares jump on talk of bid interest -traders

Thu, 2nd Sep 2010 13:37

LONDON, Sept 2 (Reuters) - Shares in Yell Group jumped more than 20 percen
t on Thursday, with traders citing market talk of bid interest for the British yellow-pages publisher.

Yell, whose shares lost nearly 40 percent last month, declined to comment.

Several traders said there was talk of a 30 pence per share bid for the UK company, and one dealer cited Google as a potential bidder.

However, some were not convinced.

'Seriously, who would want to buy a company with so much debt? It makes no sense to me,' one trader said.

More than 22 million shares changed hands by 1118 GMT, compared with a daily average 12.9 million shares in the past 30 days, according to Reuters data.

Yell shares have fallen 53 percent so far this year, underperforming a 8.5-percent gain in the UK mid-cap index .

(Reporting by Dominic Lau, Simon Falush, Atul Prakash and Paul Sandle) Keywords: YELL SHARES/

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