Poundland: If successful it would see Poundland with more stores than WH Smith high street portfolio and bigger than both Aldi and Lidl, according to The Independent. Investors reacted positively to the news today, sending shares up 8 per cent to 386.4p. They have risen nearly 30 per cent since joining the stock market last year and sets the company well on its way to achieving the 1000 stores chief executive Jim McCarthy has previously stated he wants and The deal has been agreed by both sides but must now go to the Competition and Markets Authority for approval, where officials could demand the retailer shut some stores to allow for more competition. The 99p Stores founder, businessman Nadir Lalani, will take home 47.5 million from the sale along with a further 7.5 million worth of shares in Poundland.
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Tagged under the Competition and Markets Authority, stock market topics.