Shares in retailer JJB Sports have surged 42% this morning on takeover talk, prompting the company to clarify the situation.
JJB said it had been holding discussions with its bank and a number of partners and investors about raising extra financing for the business. Talks with one particular partner and its bank are continuing, and these have have been widened to include other possible investors.
This seems to indicate an investment rather than a takeover of the group, but this has not stopped JJB's shares jumping 4.25p to 14.5p.
