Soriana's stock rises

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Carl Collen

BY CARL COLLEN

Soriana's stock rises

Mexican group's purchase of Gigante stores boosts profile

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Soriana, the Mexican retailer, has enjoyed a considerable increase in its share price since the announcement that it would purchase 198 Gigante stores in a US$1.35bn deal, with stock value jumping 21 per cent. Scotia Capital analyst Raul Ochoa told Reuters: "Soriana is in fashion because of the Gigante acquisition."

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