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McDonald's rival Jollibee jumps after announcing spin-off plans

Jollibee Foods Corp. shares saw their largest single-day rally in 18 years on Tuesday after the Philippine fast-food giant announced a transformative plan to spin off its international business and list it on a U.S. stock exchange.

The move is designed to decouple the company’s high-growth global brands from its stable, cash-generative domestic operations, providing investors with "targeted exposure" to two distinct equity stories.

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