General
Redstone in talks with mystery suitor
19 Sep 2009
VAR Redstone has admitted it has received an "early-stage approach" after a 52 per cent spike in its share price.
The Alternative Investment Market-listed firm, which recently sold its telecoms arm to Daisy Group for £17m, said the talks "may or may not lead to an offer being made for all or parts of the group".
Redstone's share price has beefed up 52 per cent in the last two days. Yesterday the reseller said it is continuing to explore potential ways to cut debt, which could include further asset disposals.
"Shareholders should be aware that there is no certainty that an offer will be made and no certainty as to the price or terms on which any offer might be made," the VAR stated in a stock exchange announcement this morning.
Redstone added that a further announcement would be made in due course.