The Co-operative Group, the UK retailer, is giving nothing away over its talks to buy local rival Somerfield despite reports a deal will be sealed this week.
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Reports in the UK over the weekend claimed sale terms had been agreed and the the Co-op would clinch a GBP1.6bn (US$3.2bn) takeover this week.
The Co-op, which has been in talks with Somerfield since April, is bidding to become the UK’s fifth-largest grocer.
However, when contacted by just-food this afternoon (14 July), a spokesman for the Co-op refused to comment.
Talks between the two companies began after the Co-op emerged as the only potential suitor to table a formal bid for the whole Somerfield business, which runs over 900 stores in the UK and was put up for sale in January.
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By GlobalDataOfficials for Somerfield’s owners could not be reached for immediate comment.
