 Debenhams has struggled since it returned to the stock market |
Icelandic investment group Baugur has dismissed speculation that it is looking at bidding for the department store group Debenhams. Baugur, which has built up an 8% stake in the High Street chain, said it had "no current intention" of making an offer for the business.
It also said it would not increase its holding above 30%, which requires a bid to be made under stock market rules.
Struggling Debenhams has also been the subject of other takeover speculation.
Last month, German firm Acandor, which owns the KarstadtQuelle chain of department stores, admitted that it had held discussions with the UK firm.
Tough trading
It had been rumoured that Baugur wanted to merge Debenhams with the House of Fraser, which it bought last year.
It also has stakes in other High Street names, such as Moss Bros and Woolworths.
Debenhams has 132 stores across the UK and the Republic of Ireland, and it also has 35 franchisee stores abroad.
It has suffered from a tough trading environment since returning to the stock market last year.
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