AUSTRALIA: Woolworths not planning immediate acquisition
Australia's largest supermarket group, Woolworths, says it is not planning to take over any of the country's large retailers. The group has sufficient cash to make a large acquisition, said chief executive Roger Corbett. However, the ruled out making a bid for the David Jones or Harvey Norman retail groups, or the discount variety chain Kmart, which is owned by Coles Myer.
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