MOTOR vehicle group Appleyard has announced it is in the 'early stages of discussions' with a potential buyer. Shares in the dealership group - which jointly owns Appleyard Vehicle Contracts with Mercantile Credit - increased 19p to 90p on Thursday (June 12) following confirmation of talks.

In a statement the company, now valued at around £60 million, said: 'The directors of Appleyard have noted the recent movements in the company's share price and announce that they are in the early stages of discussions which may or may not lead to an offer being made for the entire share capital of the company.'

The company says it will make a further announcement as soon as possible, but market speculation suggests that interested parties could include Reg Vardy, Dixons Motors and Sanderson Bramall.