Central Group, based in Thailand, has refuted the rumours of buying British fashion retailer Selfridges after there were reports that the Group had fixed the deal worth £4 billion.
In a statement released to country’s stock exchange, the Group’s CEO Yol Phokasub said that it was offering requested clarification regarding news published by The Times and Brand Inside yesterday that said Central Group is all set to buy Selfridges.
The Group, reportedly, said that it was not engaged in any discussions with Selfridges to fix the deal.
Meanwhile, there are reports that the owner of Italy-based La Rinascente has won the bid to acquire Selfridges.
On Thursday (2 December) The Times had reported that the Central Group would buy the retailer from the Weston Family as early as this month.
However, now with reports that La Rinascente has won the bid as well as the denial by Central Group has put all speculations at rest.
Founded in 1908, Selfridges was acquired by Weston family in 2003 for £598 million. It has its headquarters at London.
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