Lazard, owner of a 28 per cent stake in Panmure Gordon, the mid-market stockbroker, is understood to be considering selling its holding either as a block to one large buyer or into the market. The availability of Lazard’s stake may make Panmure Gordon more likely to receive an approach from bidders disappointed in the sale of Bridgewell, its smaller rival, which Landsbanki of Iceland is set to buy. Lazard and Panmure Gordon declined to comment. Panmure’s shares rose 7p last week on its positive trading statement, and closed the week at 151½p – valuing Panmure at £103m.
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