Claire Wilson
SHARES in discount supermarket chain Dia climbed 3% on news it is negotiating the purchase of local chain El Arbol.
The acquisition would make it the third-largest grocer in Spain.
The deal is rumoured to be worth around €100 million.
El Arbol is owned by a group of savings banks.
A buyout would enable Dia to raise its sales and market share by around 20%.
It had sales of €7.36 billion in the nine months to September and net debt of €792 million.
Click here to read more News from The Olive Press.
