Kingfisher considers bid for VCI

KINGFISHER, the Woolworths and B&Q retailer, is considering making a rival bid for VCI, the video, music and book publisher which produces the Manchester United books and videos. VCI agreed to a pounds 32.1m bid yesterday from Scottish Media, the television group. VCI shares soared 13p to 91.5p, well above the 80p per share figure agreed with Scottish Media.

VCI advised its shareholders to take no action. Kingfisher is already a market leader in entertainment retailing with its Woolworths and Music Video Club stores. It also owns Entertainment Direct, a music and video distributor.