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Baugur boss rules out bid for Debenhams

Baugur chief executive Jon Asgeir Johannesson has said the group has no intention of making a bid for Debenhams in the near future. In an interview with the Financial Times, the boss of the Icelandic investor, which has interests in UK fashion retailers including Mosaic and MK One, said that its House of Fraser business had a lot of work to do before Baugur would look at something else.