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Philips Electronics NV on Friday declined to comment on speculation swirling around the London stock market that it had UK virtual reality pioneer Virtuality Group Plc in its sights as a bid target. We never comment on market rumours, it said, recalling that the company has a very small stake in the firm: There are some things we’re discussing with them at the moment but that’s product related, it added – Whether that’s causing the speculation I don’t know. Virtuality climbed 1.5 pence to 76.5 pence in London on the takeover speculation.

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