Focus Do-It-All has withdrawn from the £1bn auction to buy Homebase.
The DIY chain, backed by Duke Street Capital, believes Homebase needs too much investment in store refurbishment and expansion.
J Sainsbury, which is selling Homebase, was originally looking for £1.2bn from the sale. But this has been scaled back to £1bn.
The Daily Telegraph 30/10/00 page 27, page 29 (City Checklist)
The Guardian 30/10/00 page 23 (Monday briefing)
Financial Times 30/10/00 page 31 (News in brief)
The Times 30/10/00 page 31 (What the Sunday papers say)
The Independent 30/10/00 page 19 (What the Sunday papers said)
