UK: Green pulls out of Safeway race
British retail entrepreneur Philip Green has decided not to go ahead with a bid for UK supermarket chain Safeway. Green's decision leaves the way clear for Yorkshire-based supermarket firm Wm Morrison, the only other party that was granted regulatory clearance to bid. Green, who owns the Bhs department store chain, said he had decided not to proceed on the recommendation of his advisors. Analysts said Green had probably lost interest in buying Safeway when it emerged that competition authorities would probably block any attempts to sell off some of Safeway's stores to other retailers, reported Reuters.
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