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Arcadia soars on rumour of Philip Green stakebuilding

Francesco Guerrera,Stock Market Reporter
Friday 17 December 1999 00:00 GMT
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The clothes retailer Arcadia soared over 16 per cent in afternoon trading amidgrowing rumours that the retrail entrepreneur Philip Green was buying a stake inthe company.

The clothes retailer Arcadia soared over 16 per cent in afternoon trading amidgrowing rumours that the retrail entrepreneur Philip Green was buying a stake inthe company.

Dealers in the London equity market said that Mr Green, whorecently bought the troubled retailer Sears, was looking to build a stake inArcadia which could be used as a launchpad for a full blown bid.

At 15:41 PM, Arcadia shares were up 10p to 73p - the second largest riser inthe FTSE 250 index.

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