Jeronimo Martins, the second largest retail chain in Portugal, stressed earlier today (3 November) that an article printed in Semanario Economico, a weekly national newspaper, is entirely false. The paper had excited interest by reporting that US group Wal-Mart, had offered a takeover bid of €575m for the Portuguese chain.

A statement from Jeronimo Martins revealed that: “The board hereby informs the market that it has no knowledge of any move or fact that lends foundation to the report.”

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