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InterContinental Hotels Group (IHG) has issued a statement saying that it is “not considering” a potential sale or merger of the company.
The statement to the London Stock Exchange came after IHG shares rose by as much as 7% on Friday following speculation that IHG could be up for sale or in merger talks with another hotel firm.
"Following recent market speculation, the board of directors of IHG states that it is not considering a potential sale or merger of the company," said IHG in its statement.
There has been speculation about the future of IHG, which owns brands such as Holiday Inn and Crowne Plaza, in recent months and the company denied it was in talks with major rival Starwood in July.
Rumours also circulated last month that Starwood could be taken over by Hyatt.