Woolworths has categorically rejected a report that it is considering selling BIG W, saying the discount department store chain is integral to its growth strategy.
According to a report in The Australian on Wednesday, Woolworths has been in talks with at least two corporate advisory firms about BIG W amid rumours it may mull an initial public offer, a demerger or divestment.
"Woolworths has no plans to sell BIG W, and notes that this market rumour is incorrect," the company said in a statement to the Australian Securities Exchange.
(Source: The Sydney Morning Herald Online )