Sugar prepares for Viglen bid

Alan Sugar has topped up his stake in Viglen Technology, the UK stock-market listed PC builder, by buying 9.766 million shares today at 24p. Following the surprise move, Sugar's stake in Viglen increases from 33.7 per cent to 41.7 per cent. This means that Amshold, Sugar's 100 per cent owned investment vehicle, is required under Takeover and Mergers rules to make an offer for all the shares in Viglen Technology it does not already own. Viglen directors, other than Sugar, say they will make an announcement in due course. In the meantime, they are recommending that Viglen shareholders should take no action. ® Viglen profits remain linear at best Click for more stories