Best Buy founder Richard Schulze is vying to buy the electronics giant in a $9bn (£5.8bn) deal.

Schulze, who was ousted as chairman in June, already owns 20% of the retailer and is looking to team up with private equity firms to buy the remainder.

Schulze’s financial adviser Credit Suisse said it was confident the debt refinancing could be arranged after talks were held with private equity firms. Schulze would commit $1bn (£640,000) of his own money to the acquisition.

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