HELSINKI, April 12 (Reuters) – Finland’s national broadcaster YLE quoted department store group Stockmann (STCBV.HE) as saying it was not aware of being a bid target of British rival Debenhams (DEB.L).
Cyclical Consumer Goods
British newspaper the Independent on Sunday cited market speculation that Debenhams would be interested in buying Stockmann, which would give the British company access to Russian markets.
In its online edition late on Sunday, YLE quoted Stockmann’s CFO Pekka Vahahyyppa as saying: “Normally we don’t comment such rumours, but this is such a crazy market rumour that we have to comment. We don’t have this kind of information. Probably this is — I don’t know by whom — a fabricated idea.” (Reporting by Terhi Kinnunen; Editing by Anshuman Daga)