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InterContinental Hotel Group shares higher on merger chatter - traders

Reuters - UK Focus

LONDON, April 17 (Reuters) - Shares (Berlin: DI6.BE - news) in Intercontinental Hotel Group turned positive in late trade on Friday, with traders citing market chatter that the hotel firm could be subject to a bid from a U.S. firm.

The hotelier spiked as much as 1.1 percent higher, before closing up 0.2 percent at 2,722p, well off its session low at 2,684.5p. The company traded twice its 90-day average volume.

InterContinental Hotel Group declined to comment on the speculation. (Reporting by Alistair Smout; Editing by Lionel Laurent)