Asda stays silent on Somerfield bid reports
Supermarket group Asda today remained tight-lipped over a report it could enter the bidding battle for Somerfield.
Asda was said to be considering launching an outright bid for the chain, which analysts believe could go for up to £1.2bn (€1.75bn).
The UK's number two supermarket could alternatively strike a deal with one of the two potential buyers already circling the store.
If it decides on the latter option, Asda would either join one of the existing bid teams orbuy a string of stores from the winner following a deal, the Sunday Telegraph said.
Bankers told the newspaper that Asda would use some of the sites to expand its non-food chain, which currently trades from just two branches.
Both Asda and market leader Tesco have been reaping the rewards of their move into the non-food sector.
