By Camilla Palladino
Marks & Spencer’s investors must feel as if they are on a roller-coaster ride. One week the UK clothing and food retailer’s shares plunge on disappointing sales, the next they are up on rumours that M&S might be the latest retailer to succumb to a bid from a private-equity house.
What this turbulence does indicate is that investors no longer trust M&S’s strategy to deliver a recovery. But they shouldn’t hold their breath for a private-equity bid, either.
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