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Zegona and Destiny Pharma battle it out for top spot on movers list

Zegona Communications PLC (LON:ZEG) jumped 31% to 124p on the back of takeover news concerning a company in which it has a 21.4% stake.

The private equity funds KKR, Providence and Cinven have launched a tender offer to acquire Euskaltel for €11.17 a share, a 27% premium to the 30-day volume-weighted average price of Euskatel,

Zegona is the lead shareholder in Euskaltel, the Spanish telecoms firm, with 38.3mln shares.

Destiny Pharma PLC (LON:DEST), up 32% at 210p, was the top riser in London after it announced positive trial results.

The company unveiled encouraging top-line results from its Phase 2b clinical study testing its XF-73 nasal gel.

The gel is being investigated as a new product for the prevention of the incidence of post-surgical infections such as methicillin-resistant Staphylococcus aureus (MRSA), associated with open wounds and broken skin.

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