LONDON (AFX) - Sports Direct International said it has 'no intention' of making an offer for Blacks Leisure Group PLC, dampening speculation that it was going to make a bid for the company.
It added that it would not acquire a shareholding in the company which would trigger an obligation to make such an offer.
Last October Sports Direct's owner Mike Ashley bought a 29.4 pct stake in Black's, fuelling speculation that a bid might take place.
Earlier this week Sports Direct International said that it intended to float on the London Stock Exchange, with conditional dealings starting on Feb 27. alexander.ferguson@thomson.com af/tc COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited