Majestic Wines up as it spills on sale plans

AIM-listed drinks distributor Majestic Wine (LON:WINE) saw its shares rise by 6.02% to 282p (as of 13:50 BST) after it confirmed media speculation that it was considering the sale of its Majestic branded operations as part of its group transformation plan. Management said that they had received a number of expressions of interest and the proceeds would be used to accelerate the growth of its Naked Wines arm.

The group is continuing to explore all options and there is no guarantee at this time that any sale would take place.