Baugur executive chairman Jón sgeir Jóhannesson has said the investor is still looking to buy menswear retailer Moss Bros, after dismissing an approach to sell its 29 per cent stake.
According to The Daily Telegraph, an unnamed company or individual is believed to have approached the Icelandic investor about selling its stake, but Jóhannesson said he would only sell at the right price.
Speaking at the World Retail Congress in Barcelona, he said: “We are in the mood to buy the business, not to sell.”
Baugur is conducting due diligence for Moss Bros, after announcing a 42p-a-share bid for the company earlier this year.
A number of counter bidders, including Laura Ashley, have been building stakes in Moss Bros.
This week, Baugur announced it had amassed a war chest of£430 million for acquisitions, after divesting of its media and technology portfolios to focus purely on retail.
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