British Land up on bid rumours

14th Aug 2009 10:02

Shares in British Land continued to rise today on reports the property firm could get a bid worth £10bn.Indian steel giant Lakshmi Mittal and Abu Dhabi's ruling family have approached Credit Suisse to prepare a possible bid, according to the Telegraph.The investors from Abu Dhabi and a group of Indian families were originally thought to be interested in buying Broadgate Circle, which is British Land's flagship development in the City.The Government of Singapore Investment Corporation is already the group's largest shareholder with a 4.9% stake. But it is not believed that the Singapore government is looking to increase its holding.Other possible suitors mooted have been sovereign wealth funds and the state-owned China Investment Corporation.