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David Jones’ owner said it’s not selling. Could it be looking to buy?

Media speculation about Woolworths mulling over the divestment of David Jones caused excitement in Australia. However, Woolworths was quick to scotch the speculation in South Africa. The retailer issued no official statement to the Johannesburg Stock Exchange, and South African media devoted few column inches to it. Woolworths Holdings’ initial reaction to a report in The Australian about the potential sale of the department store chain was a blunt ‘no comment’. But subsequent