Somerfield bid party maintains interest

The prospect of a £1bn (€1.5bn) bid for British supermarket Somerfield was kept alive today by the last remaining bidder in the long-running takeover saga.

The consortium featuring Apax Partners, property tycoon Robert Tchenguiz and investment bank Barclays Capital said it continued “to work towards an offer” although it added there was no certainty an offer would be made.