Shopping centres sold in £3.4bn deal

Shopping centre owner Hammerson, which owns Birmingham’s famous Bullring, has agreed a £3.4bn takeover of rival Intu.

The deal will create the UK’s biggest property company, worth £21bn.

Intu owns the Lakeside shopping centre, in Essex. and the Trafford Centre, in Manchester, while Hammerson owns Bicester Village designer outlet and London’s Brent Cross shopping centre.

Shares in Intu jumped by nearly 19% on the news, while Hammerson’s fell

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