Who gains from “fake news” about a bid for Myer?

MyerBourkestreetLast week the retail news cycle went into frenzy mode on rumours that David Jones parent company Woolworths Holdings were looking into acquiring their department store rival.

Complete bollocks according to Woolworths who were forced into making a denial to the market. However, in the meantime, Myer’s share price soared more than 8 per cent on the “fake news”. So who started the rumour and why? Who gained from it?

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