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Private equity interest in Shop Direct cools

Several private equity firms have reportedly decided against bidding for Shop Direct.

CVC Capital Partners and Carlyle have walked away from buying the etailer over concerns the firm is too reliant on its credit business, Sky News reported.

The deadline for initial offers in Shop Direct is this week.

In April, business tycoons the Barclay brothers began takeover talks with buyout firms eyeing a £3bn price tag for the company.

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