• Rival bid for Club Med
Shares in Club Med surged to a five year high after a EUR790m takeover bid from Italian investor Andrea Bonomi. The EUR21 a share offer tops a previously tabled EUR17.50 a share offer, reports Bloomberg.

Bonomi has named Intesa SanPaulo and Unicredit among his backers. Gaillon, which made the previous offer, has yet to decide on a response.
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