PPR WITHDRAWS M&S BID

PARIS — Retail giant Pinault-Printemps-Redoute said Monday it is no longer interested in bidding for Marks & Spencer’s European locations, which are slated to close by the end of the year as the British retailer focuses on its home market.
Last April, PPR announced its interest in acquiring “a certain number” of the 38 locations in Europe, but Monday indicated the asking price was too high.
Galeries Lafayette and Wal-Mart are also believed to be eyeing some locations.

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