The Group has said however that it's not in any formal discussions. it was forced to admit the approach after the dramatic increase in share price.
As yet the identity of the bidder remains unclear though industry commentators have speculated that it could be either a US institution or a major UK mortgage player, which has no foothold in the lucrative sub-prime sector.
Kensington released the following statement: “Kensington has noted the recent press speculation and confirms that it has received an informal approach. Kensington is not currently engaged in any discussions concerning the approach and there is no certainty that any offer will be made.”
Rob Clifford, managing director of Mortgageforce, commented: “If a mainstream lender were behind the approach it is entirely possible it could be Abbey, given they don’t have a sub-prime operation. Though the likelihood of a major US suitor should not be discounted.”
