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Philip Green says won't bid for Moss Bros

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Reuters
Published
today Nov 27, 2008
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LONDON, Nov 27 (Reuters) - British billionaire Philip Green said on Thursday, 27th November he has no current plans to bid for men's fashion retailer Moss Bros Group Plc , having decided now "was not the right time".

Green's vehicle Warbeck had purchased a 28 percent stake in Moss Bros on Nov. 12, paying 6.7 million pounds or 24.95 pence a share.

At the time he said he was considering his options on Moss Bros, including a possible takeover bid. On Thursday he said he had no current plans to make an offer.

"It's not the right time at the moment, there's too many other things going on," he told Reuters.

"There's a million things being offered to me," he said.

By 1254 GMT, shares in Moss Bros, which owns brands such as Moss, Cecil Gee and Hugo Boss, were down 4.0 pence, or 14.8 percent, at 23.5 pence, valuing the business at 22 million pounds. (Reporting by James Davey; Editing by Andrew Macdonald)

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