BICC leaps on bid speculation

SHARES IN BICC, the troubled cables group, leapt by 16 per cent yesterday on growing speculation that the acquisitive mini-conglomerate Wassall was preparing a bid.

Wassall, which has a 9.3 per cent stake in BICC, fuelled the rumours after refusing to rule out a takeover approach in the future. In a statement released yesterday, Wassall said it was "monitoring" its investment in BICC, adding that this "may or may not lead to an offer".