JB Hi-Fi refuses to comment on Woolworths takeover speculation

JB Hi-Fi has refused to be drawn on media reports that claim the high flying retailer had been involved in talks with Woolworths about the sale of its business.

JB Hi-Fi has refused to be drawn on media reports that claim the high flying retailer had been involved in talks with Woolworths about the sale of its business.

Richard Uechtritz, JB Hi-Fi CEO, said the company did not comment on speculation but he had heard the Woolworths rumour circulating.

The Australian Financial Review reported that the two companies were poised to announce a $1.4 billion deal until personnel and personality issues sunk the takeover talk.

Uechtritz said that there had previously been talk of Coles buying JB Hi-Fi as well as acquisitions by the company itself, which were all wide of the mark.

JB Hi-Fi will report its annual results tomorrow, while Woolworths, cashed up and frustrated in its plans to acquire The Warehouse Group in New Zealand, reports its annual earnings result on 26 August.

Inside Retailing

You can help us (and help yourself)

Small and medium businesses and startups have never needed credible, independent journalism and information more than now.

That’s our job at SmartCompany: to keep you informed with the news, interviews and analysis you need to manage your way through this unprecedented crisis.

Now, there’s a way you can help us keep doing this: by becoming a SmartCompany supporter.

Even a small contribution will help us to keep doing the journalism that keeps Australia’s entrepreneurs informed.

Trending

COMMENTS

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments