20th Jan 2014 06:49
LONDON (Alliance News) - Tesco PLC is weighing a surprise swoop on Mothercare PLC, the troubled baby products chain, as part of its wider campaign to reinvigorate its British hypermarkets, The Sunday Times reported, citing sources in London's financial district.
Tesco examined a bid six months ago, retail sources told the paper, but put the plan on hold.
Mothercare?s shares have since collapsed, with a Christmas trading warning taking it from 420 pence to close last week at 272p, giving a market value of GBP241 million. City insiders said the fall could rekindle Tesco?s interest. The sources said it had made no approach.
Tesco declined to comment to The Times.
http://www.thesundaytimes.co.uk/sto/business/Companies/article1364552.ece
By Steve McGrath; [email protected]; @SteveMcGrath1
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