UK sporting goods company Umbro, which provides the England national team football kits, has confirmed that it has been approached by another company with regard to a possible takeover.

And since speculation about the mystery company potentially being global giant Nike, the Cheshire-based sports apparel, footwear and equipment firm has seen share prices jump.

Some sources are saying that talks between the two are already at an advanced stage, although others suggest Sports Direct International, which has built a 15% stake in Umbro in recent weeks, could also be in the running.

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