[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Thursday, 5 April 2007, 16:50 GMT 17:50 UK
Puma's shares surge on bid rumour
Puma football boots
Puma's logo is one of sport's best-known images
Shares in German sporting goods company Puma have jumped amid speculation that it is set to become takeover target.

Puma shares ended 29.25 euros or 10.2% higher, at 315.24 euros, but traders said there was little sign as to which firms could bid. Puma did not comment.

One firm that was being linked to Puma was French retailer and Gucci owner PPR. It also declined to comment.

Puma, one of the world's biggest sports firms behind Nike and Adidas, has been under pressure from falling profits.

In February, the company reported that its profits had fallen by 26% to 32.8m euros ($43m; 22m) during the final three months of 2006.

However, most of the profit decline was down to higher costs linked to its expansion, and sales actually rose by more than a third to 480.6m euros.

The Herzogenaurach-based firm's sales have increased five-fold in the past six years.

Puma also declined to comment on the market speculation.


SEE ALSO
Puma sees sharp fall in profit
19 Feb 07 |  Business
World Cup spend hits Puma income
03 Aug 06 |  Business
Puma sues Fifa over kit
28 Jul 04 |  African
Puma kit deal for Ghana
13 Oct 05 |  African
German feud inspires boots town
07 Jun 06 |  Europe

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific