SpaceandPeople selected as preferred bidder on Network Rail contract

Retail specialist SpaceandPeople has been named by Network Rail as preferred bidder for the concourse exhibitions, events and distributions contract.It said the anticipated potential value of the contract was expected to be "significant" over the five-year term.Following the required 10-day standstill period, the two companies anticipate signing an agreement that will begin on 1 October of this year."Further details will be provided should a binding, formal commercial agreement be entered into by Network Rail and SpaceandPeople," it said.The share price had climbed 21% to 75.60p by 16:16.