PRESS DIGEST - British business - Oct 26

The Times

DEAL OF THE DAY

Shares in Rank (RNK.L: Quote, Profile, Research, Stock Buzz), the bingo and casino operator, gained 2.25 pence to 102 pence on continued bid rumour despite the fact chief executive Ian Burke bought 20,000 of the company's shares at 103.75 pence per share. Burke would not have been allowed to buy the shares if he knew of any bid approach. Genting (GENT.KL: Quote, Profile, Research, Stock Buzz) of Malaysia is fingered in the bid rumour as the likely predator.

TIDDLER TO WATCH

Michael Armitage, an analyst with Charles Stanley, has tipped Vanco VAN.L, the installer and designer of telecom networks, saying the company's shares had the capacity to double in a year and triple in three. The shares gained 8.5 pence to 180.5 pence, still shy of Armitage's price target of 300 pence, which assumes flat earnings.

CREDIT CRUNCH SPOILS DELEK'S SWISS PROPERTY DEAL

Delek Global Real Estate (DGRE.L: Quote, Profile, Research, Stock Buzz), owner of Britain's NCP car parks, has pulled out of a 1.4 billion pound Swiss property deal, blaming it on the "continuing uncertainty in the global commercial property market". The deal, which was due to be completed in just two days' time, was struck at the end of July with an Israeli property company to buy 88 buildings in Switzerland from the retail group Jelmoli.

The Daily Telegraph

BOS SELLS EQUITY STAKE IN LUXURY FLATS