February 1, 2013 / 8:16 AM / 5 years ago

Autogrill shares soar in pre-market trade on split-up plan

MILAN, Feb 1 (Reuters) - Shares in Italy’s Autogrill rose sharply in pre-market trading and did not open on Friday after the company said it planned to split itself into two business units.

“As we have said in the past, we consider this as a catalyst for the stock and the only corporate action which might better unveil the hidden value of the travel retail business within the group,” said Mediobanca bank in a morning note.

At 0812 GMT, the stock opened for trading and was up 5.1 percent at 9.50 euros. (Reporting by Jennifer Clark, editing by Francesca Landini)

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