Shares in Travelzest climbed almost 14 per cent to 104½p after the specialist travel operator said it was in the early stages of a potential offer.

The company, which was responding to recent rumours, confirmed that the cash offer might be made at 115p a share – although the potential offeror reserved the right to offer less if recommended by the Travelzest board. The group added that there was no certainty that the talks would lead to an offer being made.