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No Safeway bid

Last updated: 2003-10-30

Green pulls out of Safeway bid

Green pulls Safeway bid

Retail billionaire Philip Green has withdrawn his interest in buying supermarket chain Safeway.

The entrepreneur and owner of BHs and the Arcadia chain of fashion stores has spent over six months looking at the Safeway business before deciding it wasn't the right opportunity for him.

Had Green decided to make it bid, it would have been through his company Trackden Investments. In a statement, he said: "Following advice from its professional advisers, Trackdean has now decided not to proceed with an offer for Safeway."

With Green out of the running, it is looking likely the the UK's fourth largest supermarket chain will go to to north of England-based Morrisons.