Aug. 21, 2003
MADRID -- In the wake of rumors that Spain's 858-unit Telepizza chain might be up for sale, share prices hit a 15-month high on Aug. 21.
"There have been market rumors about a takeover of the company, which has been pushing the shares up recently," an unidentified stock trader said in a Reuters report.
Other traders said analysts are expecting positive half-year 2003 results when the company reports its sales performance later this month.
Since investor Javier Tallada, chairman of Puleva Biotech, purchased a 5.2 percent stake in Telepizza in July, shares have risen 18 percent.