(Reuters) -CC Capital will not make a takeover bid for office space provider IWG, the U.S. private equity firm said on Tuesday, following a media report of deal talks between the two.
Shares of the company, that competes with WeWork, jumped as much as 8% on hopes of a bid after the Sky News report, and pared gains to trade 2.4% higher by 0840 GMT.
The report said IWG was in secret talks about a potential takeover offer that could value the British company at more than 4 billion pounds ($5.54 billion). (bit.ly/2UDE43F)
($1 = 0.7224 pounds)
Reporting by Muvija M in Bengaluru, Editing by Sherry Jacob-Phillips and Shounak Dasgupta
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