GENERAL MERCHANDISE NEWS
Woolworths shares suspended
26 November, 2008 | by Retail Bulletin
Woolworths shares have been suspended this morning as the retailer confirmed ongoing talks relating to the potential sale of its retail business.
“Whilst discussions in relation to such sales are being pursued with vigour, terms have not yet been agreed. Both sales are subject, amongst other things, to the approval of the group’s lending banks,” Woolworths said in a statement.
‘The Board also notes recent press speculation in relation to the possible sale of its 40% interest in the 2 Entertain joint venture with BBC Worldwide. The Board can confirm that it is in discussions regarding a possible sale of that interest to BBC Worldwide.’
