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Philip Green

November 28, 2008

Billionaire retail magnate Sir Phillip Green has said he does not plan to launch a takeover of UK suit retailer Moss Bros, whose founding Moss family retains an 18% stake.

Billionaire retail magnate Sir Philip Green has said he does not plan to launch a takeover of UK suit retailer Moss Bros, whose founding Moss family retains an 18% stake.

Green, who purchased a 28% from troubled Icelandic investment firm Baugur earlier this month, has said that now is not the right time to buy causing the company's stock price to plummet. He is understood not to have met with the family.

November 13, 2008

Sir Phillip Green, the billionaire retail magnate, has reportedly bought the 28.5% stake in UK suit retailer Moss Bros held by Icelandic investment firm Baugur.

Sir Phillip Green, the billionaire retail magnate, has reportedly bought the 28.5% stake in UK suit retailer Moss Bros held by Icelandic investment firm Baugur.

Baugar’s position as the company’s largest shareholder became untenable following the collapse of Kaupthing, one of the banks caught up in Iceland’s financial crisis, through which the stake was held.

It is a rapid decline for Baugur who in May attempted a takeover of Moss Bros for the second time. Both attempts were thwarted by the founding Moss and Gee families.

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