Songbird Estates: No Approach From Qatar Investment Authority - WSJ.com

Songbird Estates PLC (SBD.LN), which owns most of London's second financial district Canary Wharf, Friday said it hasn't received any approaches from investor and major shareholder Qatar Investment Authority, but its shares soared on speculation the Gulf sovereign wealth fund is considering a takeover of the property specialist.

A spokeswoman for Songbird said the company hasn't received "any approach" from QIA at all, whether to launch a bid or increase its share holding in the company.

Following reports QIA intends to increase its stake in Songbird to take control of the Canary Wharf estate, Songbird shares soared. At 1032 GMT Songbird was up 12 pence or 8.2% to 156 pence.

QIA already is Songbird's major shareholder, with a 24% stake in the listed company and ownership of Songbird's preference shares, which rank ahead of all other classes of share capital, followed by GF Investments II LLC, which owns 24% as well.