LONDON, June 5 (Reuters) - Wm Morrison MRW.L, Britain's fourth-biggest supermarket group, said on Thursday it was not bidding for smaller rival Somerfield, but would look at buying individual stores if they became available at a later date.
“We’re not in the process of the purchase of Somerfield,” Chief Executive Mark Bolland told reporters. “If there are individual stores at the end of the process that are for sale, we’ll have a critical look at these stores ... But I haven’t heard whether it’s that far in the process,” he added on a conference call.
The Co-Operative Group, Britain’s biggest mutual retailer, has said it is in talks to buy Somerfield, and the Daily Telegraph newspaper said on Wednesday it was looking to sell up to 200 stores following a deal. (Reporting by Mark Potter, Editing by Kate Holton)
Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.
Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.