Diyafa World boosts InterCon stake
London, September 27, 2008
A Dubai government holding, Diyafa World Limited, has increased its holding in the world's biggest hotel company InterContinental Hotels Group to 4.23 per cent, the hotelier said.
The Dubai group is an existing shareholder of the British hotelier and earlier this week increased its holding above three per cent and then over four per cent, but there was no indication from whom it bought the shares.
'We regard them as long-term investors,' an InterContinental spokesman said.
InterContinental's biggest shareholder are the billionaire Barclay brothers who hold a 10 percent stake. The brothers have been the source of bid speculation for the hotelier in the past.
InterContinental shares were up 0.29 percent at 692 pence in a lower London stock market by 1410GMT.-Reuters