Co-op reported to be in the hunt for Londis

The Co-op is set to unveil a £66m (€100m) offer for convenience store business Londis in a bid to scupper a deal by Budgens owner Musgrave, it was reported today.

Londis – owned by the shopkeepers who hold shares in the wholesaling and distribution operation – is currently seeking approval of a £60m (€90.9m) offer from Musgrave.