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Fayrewood in bid talks

Shares jump

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IT distie Fayrewood PLC revealed today that it has been in secret talks with a third party company which could lead to an offer to buy all or part of the firm.

The announcement follows a close to 14 per cent jump in Fayrewood shares today on the London Stock Exchange (LSE).

The firm said in a brief statement "a further announcement will be made in due course as appropriate".

In the past year Fayrewood has been selling firms as part of a planned disposal programme.

It recently accepted a €12.5m (£9.02m) cash offer for the sale of its French subsidiary Banque Magnetique from Gem Logistics.

Prior to that it had disposed of its remaining stake in Computerlinks following the sale of Spanish firm UMD in December 2006.

Fayrewood shares closed at 127.5 pence on the LSE. ®

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