Debenhams takeover talk persists

Department store group Debenhams is the subject of renewed bid speculation after Micky Jagtiani increased his stake in the retailer.

Micky Jagtiani's investment vehicle Milestone Resources increased its holding in Debenhams from 8.39% two weeks ago to 9.13%.

Jagtiani is the boss of Dubai based retail giant Landmark and also has links with Icelandic investment firm, Baugur which in turn owns 13% of Debenhams.

Baugur along with Jagtiani and Sir Tom Hunter's investment firm West Coast Capital have all been linked to a possible bid for US department store group Saks.