26th Jan 2015 12:30
(An article published at 0955 GMT incorrectly implied that Halfords was looking to acquire Evans Cycles. The correct version follows.)
LONDON (Alliance News) - Sports Direct International PLC founder Mike Ashley is amongst a group of retailers looking to buy British cycle retail chain Evans Cycles, the Telegraph reported late Saturday.
Bikes-to-car parts retailer Halfords Group PLC was also amongst those eying Evans Cycle as a potential buy, the Telegraph said. However a person familiar with the matter told Alliance News Monday that Halfords was never looking to buy Evans Cycles, and is instead focusing on expanding its own Cycle Republic stores in London.
Ashley is looking to buy up the retail chain for around GBP100 million, according the The Telegraph, which would be part of his plans to expand Sports Direct's offering into the cycling market.
Sports Direct declined to comment.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11367892/Mike-Ashley-eyes-latest-move-with-bid-for-Evans-Cycles.html
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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