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UPDATE-Forte Energy shares jump in London ahead of acquisition news

Published: 01:14 03 Apr 2014 AEDT

uranium

--UPDATES SHARE PRICE--

Forte Energy’s (LON:FTE, ASX:FTE) London-listed shares more than doubled after the uranium-focussed company said it expects to announce an acquisition within the next two days.

The dual listed company said trading in its Australian shares had been suspended pending the announcement.

It did not disclose any further details.

Forte had previously said it was looking at potential corporate opportunities.

The company should be well positioned to take advantage of a revival in the uranium market following a cost-cutting programme and recent fundraising.

The shares soared 103% in London to 77 pence, the highest price since last July.

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