Investec is the Evolution suitor

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South African banking giant Investec was yesterday unveiled as the mystery suitor for Evolution Group, the UK stockbroker. The firm revealed on Wednesday it had received a preliminary approach, but declined to name the party, sending the broker's shares up by 8.5 per cent.

Yesterday, the shares edged up a further 0.31 per cent, giving the group a market capitalisation of just under £200m.

Evolution has cautioned that there is no certainty that a sale will be agreed.