Shares in Spain’s Telepizza hit a 15-month high yesterday [Thursday], following speculation that the fastfood company could be a takeover target.

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“There have been market rumours about a takeover of the company, which has been pushing the shares up recently,” one dealer was quoted by Reuters as saying.

Other traders said analysts were expecting good first-half results from the company next week.

Spanish businessman Javier Tallada, chairman of Puleva Biotech, said on 28 July that he had purchased a 5.2% stake in the fastfood firm. Since then the shares have risen 18%, reported Reuters.

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