Philip Green forced to clarify Sainsbury’s joke

Tycoon pressed on takeover plans
Entrepreneur Philip Green has been ordered by the Takeover Panel to confirm he has no plans to make a bid for Sainsbury’s.

The sense of humour bypass at the City watchdog followed an off-the-cuff quip by the owner of Bhs and Arcadia at a conference in London.
Asked by chairman Andrew Neil if he was planning a bid for the supermarket group, Green said: “Not this week”. The remark was picked up by newswires and reported around the world.
After the Panel intervened, a statement to the Stock Exchange late on Friday from Green’s Revival Acquisitions said: “Philip Green wishes to clarify that he is not considering a possible offer for Sainsbury.”

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