Companies: MOSB   

Retail tycoon Sir Philip Green has sparked bid hopes by snapping up 28 per cent of loss-making Moss Bros for £6.7 million.

Green’s Warbeck Holding Company vehicle paid 24.95p a share for this stake in the celebrated formal wear company, widely assumed to have been the holding of beleaguered Icelandic group Baugur. That is 9.2p more than yesterday’s closing price and sent the shares up 10p to 25.75p this morning.

The market awaits further developments, which are believed to be imminent. The founding Moss and Gee families retain significant holdings in the company, which lost £1.6 million in the first half-year, and, despite this morning’s surge, the shares are still a long way down from early 2006, when they stood at 91p.

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Moss Bros	LSE	£16.78m	17.75p	0.50p
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