(Alliance News) - Capital & Counties Properties PLC on Thursday confirmed its is in talks to possibly acquire a sizeable holding in real estate investment trust Shaftesbury PLC.
Capco, a FTSE 250-listed property investor focused on central London, confirmed "recent press speculation£ that it is in talks to take a 26.3% shareholding in Shatesbury.
"There can be no certainty that these discussions will lead to any agreement between Capco and the selling shareholder," said Capco.
The firm said it will made a further announcement "in due course, if appropriate".
Reactnews.com on Thursday said Capco was in talks to buy the stake from Shaftesbury's largest shareholder, Sammy Lee and speculated that it could result in a "long-heralded GBP3.1 billion merger".
Shares in Capco ended 3.8% higher at 159.30 pence in London on Thursday. In Johannesburg, they closed 6.2% higher at ZAR34.12.
By Anna Farley; annafarley@alliancenews.com
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