Shares in French steakhouse chain Buffalo Grill soared on Monday on rumours that its owners are ready to sell the group if the right offer comes in.
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The group suffered a serious decline in custom late last year when it was suspected of violating the embargo on British beef.
Chairman, Christian Picart, who along with his family controls almost 75% of the group, has denied media reports that Buffalo Grill has been in sale negotiations with a leading French retailer since the start of the year.
However, the company has confirmed that it is open to offers but adds that any sale would not be negotiated on the basis of current market prices.
Buffalo Grill, which is still suffering the impact of the economic downturn on the eating-out sector, especially for evening and weekend periods, does not expect to regain pre- to mid-December 2002 customer numbers until the start of next year.
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