PPHE Hotel shares fall as confirms no longer in any takeover talks

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PPHE Hotel Group Ltd on Thursday said it is no longer in discussions with any party in relation to its possible sale "that the board considers to be deliverable".

In response, shares in the operator of Park Plaza and art'otel hotels fell 10% to 1,538.00 pence each in London on Thursday morning.

Last month, Fattal Hotels Ltd said it was not proceeding with a possible £22 per share bid for the London-listed firm after PPHE major shareholder Euro Plaza Holdings expressed opposition.

At the time, PPHE said it had "received an indicative proposal from another interested party".

However, on Thursday PPHE said "it is not in receipt of any approach."

PPHE also said it had concluded its strategic review launched last November.

PPHE had said the review would "consider a range of potential options to maximise value for all shareholders," including selling some or all of the company.

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