- Capital & Counties Properties said it had noted an announcement by Candy Ventures that it was in the early stages of considering a possible bid for the company.

Capital & Counties said that, at this stage, it not received an approach from Candy Ventures or any other party.

'The board has full confidence in the company's strategy and management to continue to deliver significant shareholder value,' Capital & Counties Properties said.

'The company is well advanced in executing the separation of its two prime central London estates Covent Garden and Earls Court.'

Capital & Counties on Sunday entered into a short period of exclusivity with an entity established by Delancey, on behalf of its client fund and APG, in relation to the possible sale of Earls Court.

'The board continues to focus on maximising shareholder value,' it added.

'At this stage the board recommends shareholders take no action.'

At 1:14pm: [LON:CAPC] Capital Counties Properties PLC share price was +21.3p at 271.1p

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