Woolworths speculation lift shares

Shares in Woolworths rose sharply today as investors awaited Iceland founder Malcolm Walker’s next move in his pursuit of the group’s retail arm.

Woolworths speculation lift shares
Mon, 18 Aug, 2008 - 15:02

Shares in Woolworths rose sharply today as investors awaited Iceland founder Malcolm Walker’s next move in his pursuit of the group’s retail arm.

Woolworths yesterday rejected as “unacceptable” an approach for its 815 stores from a group headed up by Mr Walker and backed by Icelandic investment group Baugur, which has a 10% stake in Woolies.

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