Home Business NewsBusiness Rumour Mill: Argos owner Home Retail Group could be sold for £1bn

Rumour Mill: Argos owner Home Retail Group could be sold for £1bn

by LLB Editor
23rd Nov 15 10:10 am

Home retail Group, the owner of Argos and Homebase, might be up for sale with a £1bn pricetag.

According to various media reports, private equity honchos are eyeing up the company after it issued a shock profit warning last month.

The group blamed last year’s Black Friday which made the retailer’s website crash and saw shoppers fighting over TVs.

Shares sunk almost 18% and hit a two-and-a-half year low.

After rumours of the potential £1bn sale, Home Retail Group shot to the top of the FTSE 250 leader board this morning.

The stock rose more than 6%, or 6.6p, to 110p in early trading on Monday.

 

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