Steinhoff shares jump as much as 27% in Frankfurt, extending two-day surge to 53%, and rising to the highest intraday level in almost six months.Gains follow reports of separate interest in Cofel, which is half-owned by the South African retailer, and its Pepco business, which runs Poundland stores in the UK.
“The market is looking at how much tangible value can be realised from Steinhoff’s holdings. The cash realised will provide some relief to the working capital requirements and huge debt burden Steinhoff has.”
Source: Loan Digest (loandigest.net)
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