Chartered soars on takeover talk

Shares in Standard Chartered Bank rose sharply in London trading yesterday on speculation that it was a takeover target. The stock was up 8 per cent at 864 pence (about HK$96) at 4pm, off an early high of 893.75 pence, after reports that new chairman Sir Ian Prosser would seek a buyer. Barclays Bank, Lloyds Bank and Citigroup have been reported as being interested.