Thursday June 12, 07:47 AM
Rank Group says Guoco raises stake to 12.67 pct
LONDON (Thomson Financial) - Asia-based Guoco Group Ltd (0053.HK - news) . has again upped its stake in UK casino and bingo company Rank Group Plc (LSE: RNK.L - news) ., according to a filing to the stock exchange.
Guoco now holds about 49.5 million shares, representing 12.67 percent of the total voting rights.
On June 2 Guoco held a 12.02 percent stake in Rank. It has been gradually increasing its stake in Rank since January, when it held around 4 percent.
Rank has been subject to takeover speculation since Malaysian gaming group Genting (3182.KL - news) purchased a 9.38 pct shareholding last year, subsequently boosting it to around 11 pct, although Genting has since ruled itself out of making a bid.
The Richardson family, which owns a property development and haulage empire, are also thought to have amassed a stake in Rank via contracts for difference.
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