Shares in the luxury fashion brand rose six percent amid rumours that a takeover could be in the works. Reports suggested that it had asked bankers to look into the mystery investor who has built up a stake of five percent in the company.
It was later revealed that such requests to banks that handle investments are normal and stakes often change in businesses of this size.
A person familiar with the matter said that Burberry later learned that the stake of five percent had been accumulated by multiple investors via HSBC, triggering the excitement that a mystery investor may be building up a stake in the brand.
This confusion sent share prices up 6.6 percent on Tuesday before falling down 5.5 percent on Wednesday when the multiple investors were revealed. This puts the share price at just above the point it was before reports of the mystery investor surfaced on Monday.
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