THE Australian builder of the much-delayed Wembley stadium complex saw its shares soar after it confirmed it had received a takeover approach.

Shares in Multiplex, which suffered huge losses during the past year after severe delays to the completion of Wembley Stadium, jumped more than 17 per cent on the Australian stock market, after it said it was due to start talks with a potential bidder.

The interested party, which has not been named, has already held talks with Multiplex's largest shareholder, a trust headed by the company's founders, the Roberts family.

Three members of the Roberts family hold senior positions in Multiplex. Andrew Roberts is the group's chief executive, while Tim and Denby Roberts are both company executives. The firm was established by their father, John Roberts, in Perth in 1962. It was listed on the Australian Stock Exchange in 2003 and had a market value of more than é1.62bn yesterday.

Multiplex said no firm prop-osal had been put to the trust in the discussions.

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