Is AO founder about to say ‘Let’s go’ to highest bidder?

AO, let’s go! The catchy advert jingle has certainly rung true for AO World’s share price in recent weeks.

The internet white goods seller’s shares have been on fire recently as more shoppers switch to buy electrical goods online while high street stores are closed.

Now s peculation has whipped through the Square Mile that John Roberts – the company’s founder, chief executive and largest shareholder – is weighing a £ 1 billion sale and sounding out potential buyers.

Gossips have tipped the likes of supermarket giant Tesco, online shopping behemoth Amazon, and online giant The Hut Group, chaired by former T es co boss Sir Terry Leahy, as potential buyers of AO World.

Some City sources even suggested an announcement was imminent.

Any takeover is likely to be welcomed by long-term investors in AO World.

The company floated to great fanfare on the London market in 2014 at £2.85 a share but since then has consistently failed to reclaim that high.

Tesco, Amazon and The Hut Group all declined to comment. A spokesman for AO World tried to pour cold water on the idea of a potential take-over, but declined to comment publicly.

HOUSEBUILDERS have a knack of working the cycle.

Just ask Tony Pidgley, the founder and chairman of upmarket homes builder Berkeley Group.

The s hare pri ce has taken a bit of a hit in recent weeks with construction work slowing at sites, sales drying up and f ears s wirli ng around house prices.

But veteran Pidgley, 72, knows how to turn a bad situation into a good one better than most.

Sources say the company has been eyeing up buying sites on the cheap in London in recent weeks.

The company is due to report its annual results on Wednesday so news of land acquisitions shouldn’t come as a surprise.

ARMED with £200 million raised from investors, AIM- listed Boohoo will hope to wow its new backers with a glam set of firstquarter results for March to May on Wednesday.

The fashion retailer has been one of the business success stories of the lockdown as shoppers flocked to its website.

It could face stiffer competition when high street stores reopen tomorrow. Scribblers at Peel Hunt predict a ‘tsunami’ of sale stock at the likes of Topshop and New Look.

But the analysts think Boohoo could beat expectations on Wednesday, adding: ‘There’s every chance Boohoo is running ahead of market expectations.’