MEXICO CITY Feb 18 Mexico's Grupo Gigante on
Monday did not rule out a possible acquisition of the 50 percent
stake in the Mexican unit of U.S. office-supply store chain
Office Depot that it does not already own following a report it
was in talks to do so.
The Mexican retailer has been considering
options related to its 50 percent holding in Office Depot's
local unit since 2008, Grupo Gigante said. Last week
U.S. news agency Bloomberg said it was in talks to buy the other
Gigante has held talks with various financial institutions
"with a view to using credit lines for financial purposes to
execute its business plan and that of its subsidiaries," the
company said in a statement to Mexico's stock exchange.
The business plan does not exclude acquisitions, but it does
also include organic growth, the statement said.
Separately, a portfolio manager at one of OfficeMax Inc's
top shareholders, Neuberger Berman, said on Monday it would
support that company's possible merger with Office Depot,
depending on terms of the deal.
The Wall Street Journal reported earlier on Monday that
OfficeMax and Office Depot were in advanced talks to merge.