Manufacturing Industry
easyJet shares rise after Icelandic takeover rumours
Airline Industry Information, Oct 22, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Shares in the UK-based budget airline easyJet jumped 15% on Friday morning (22 October) after rumours that an Icelandic airline was looking to buy a controlling stake in the airline.
Air Atlanta Icelandic, Iceland Express and Icelandair have all been linked with easyJet. Iceland Express has moved to deny the reports and said that it would not be buying any shares. easyJet has refused to comment on the situation, with Icelandair and Air Atlanta both unavailable for comment.
By mid-morning on Friday easyJet's shares were at GBP1.51, valuing the airline at GBP580m, with more than 18m shares having been traded - more than three times the daily average, reports Reuters.
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