Business Services Industry
Evening Standard, London, Anthony Hilton Column.
Knight Ridder/Tribune Business News, December, 2003
By Anthony Hilton, Evening Standard, London Knight Ridder/Tribune Business News
Dec. 18--NOT ALL SEWN UP YET AT SAFEWAY: You could almost believe from the Press comment this week that Wm Morrison's takeover of Safeway was a done deal. The other supermarket suitors have been kicked into touch and the board seems happy with the offer, so what, after 12 months of courting, could go wrong now?
Well more or less everything. Indeed, we have already had a hint of what is to come from the leak -- ineptly denied -- that Asda was willing to pay UKpound 2 billion for a package of the best-sited stores. That story puts the focus where it belongs -- on the scarcity value of those Safeway sites which could be realised if each is individually auctioned....
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