Glen Dimplex has again increased its shareholding in the British domestic appliance manufacturer, Kenwood, fuelling speculation that the Irish group may mount a full takeover bid. Glen Dimplex disclosed yesterday that it has increased its stake in Kenwood from 7.5 per cent to 8.1 per cent.

Glen Dimplex initially took a 3.5 per cent stake in Kenwood in August 1998, and more than doubled this to 7.5 per cent in January this year. Industry sources believe the only logic of such a move is in [NO ]building building a position for a bid. At its current price of 63p sterling, Kenwood has a market value of more than £30 million sterling (£37 million).