UNQUOTE

UK - Countrywide speculation continues

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It is unclear today whether Apollo will follow up its ТЃ1.01bn indicative offer for estate agency chain Countrywide with a formal bid.

Shareholders in the company seem to have mixed feelings about whether Apollo's bid undervalues the company. Standard Life has stated that it is too low, while hedge fund Boussard and Gavaudan, a noisy rejector of 3i's bid in January, has issued its support for the Apollo offer. Whether that formalised offer will materialise or not is currently in the balance.
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