Club Med shares jump on news of investor interest

11th February 2005, Comments 0 comments

PARIS, Feb 11 (AFP) - Shares in Club Med shot up by more than 2.0 percent in early trading Friday after the brokerage group Richelieu Finance said it sought to acquire close to one third of the French holiday group.

PARIS, Feb 11 (AFP) - Shares in Club Med shot up by more than 2.0 percent in early trading Friday after the brokerage group Richelieu Finance said it sought to acquire close to one third of the French holiday group.

Club Med shares gained 2.05 percent to EUR 41.33, while the CAC 40 index of leading shares showed a gain of 0.33 percent.

Richelieu Finance president Gerard Augustin Normand told the financial daily La Tribune his group wanted to increase its Club Med holding to nearly 33 percent.

On Thursday, the French stock market watchdog AMF had said that Richelieu had declared a stake of 20.13 percent, behind the hotel group Accor, which owned 28.9 percent of Club Med shares.

Normand told La Tribune: "We do not want to breach the level of 33 percent, beyond which we would have to launch a public offer (for all of Club Med's shares), but we want to get close."

© AFP

Subject: French News

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