Thanks again for all your replies. I'm taking everything onboard.
I've noted that you are also keeping an eye on the BAUGUR/BFP
stake building. I've just found a recent report which suggests
that they may be nearing the total amount that they wish to hold.
I know your main interests are the charts, but I've copied the report
as it gives a brief overview of what BAUGUR have been up to, it brings
ALLDERS into the equation, and indicates that quite a few things may be
going on behind the scenes. This tends to result in press speculation,
which usually affects prices;-
“LONDON, Dec 23 (Reuters) - Icelandic retail firm Baugur Group increased its stake in Big Food Group Plc to 19.3 percent on Monday as sources close to the firm said it also remained keen to raise its investment in food retailer Somerfield .
The Icelandic company, which operates overseas franchises for the likes of debenhams snapped up a three percent stake in Somerfield on Friday, buying 14.6 million shares.
The sources said it has plans to increase this stake if the shares remain undervalued but is not planning to try to engineer a merger between Somerfield and Big Food contradicting weekend press reports. Somerfield shares were trading one pence lower at 75-3/4p.
Baugur on Monday added a further 1.35 million shares to its Big Food stake, taking its holding to 19.35 percent, near to the total amount it wants to hold, the sources said. Shares in Big Food were up 1/2p at 55-3/4p.
Baugur is not thought to be planning a bid for either company, but is merely trying its luck investing in poorly performing retail stocks, the sources added.
The company, which made 71 million pounds by selling its stake in Arcadia to Philip Green earlier this year, also tried to buy shares in department store group Allders before the store group's biggest shareholder Minerva launched a takeover bid.
Now it has rival department store chain House of Fraser in its sights. It has pledged its eight percent stake to back a potential takeover by Scottish entrepreneur Tom Hunter.
Hunter has also been picking up shares in Allders despite the rival bid from Minerva and independently of any agreement with Baugur. Many analysts see huge cost savings from merging the two chains.”
