September 12, 2018 / 5:04 PM / 6 days ago

Sports Direct does not intend to make offer for Debenhams

Sept 12 (Reuters) - Mike Ashley’s Sports Direct does not intend to make an offer to acquire Debenhams, the British sportswear firm said on Wednesday, in response to “recent press speculation”.

Shares in Debenhams rose as much as 9 percent on Wednesday after an outgoing director of Sports Direct said the sportswear retailer had discussed combining the department store group with House of Fraser.

Sports Direct, which bought House of Fraser out of administration, owns a 29.7 percent stake in Debenhams, which has issued three profit warnings this year. (Reporting by Justin George Varghese in Bengaluru; Editing by Elaine Hardcastle)

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