Shares in luxury retailer Burberry (BRBY) rose this week as rumours of a possible takeover gripped the market. Burberry bosses called in financial advisers to monitor the situation as a mystery investor tries to build a substantial holding. HSBC, the shareholder's custodian, finally admitted the stake - worth less than 5 per cent (it was recently reduced from 5.4 per cent) - actually related to several investors and not just one. Nevertheless, we think the sensitivity of management and the market to the possibility of a bid speaks volumes.
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