Woolworth still cool on Walker plan
Troubled retailer Woolworths yesterday played down reports that its chief executive Robert North was due to meet with Iceland entrepreneur Malcolm Walker.
Reports had suggested the two sides were certain to get together for crucial takeover talks later this week.
It emerged last week that Woolworths had rejected a £50m takeover approach from a consortium, including Icelandic group Baugur, for its underperforming retail division.
The retailer said the approach for its 815 stores undervalued the company.
But the shares soared by 25 per cent putting pressure on North to meet with Walker and reconsider.
However, spokesperson for Woolworths, Susanna Voyle said: “There is no meeting proposed to take place between Mr Walker and Mr North.” Walker is part of a consortium that includes Icelandic investor Baugur, which owns a 10 per cent stake in Woolworths.
