Matalan 'should not sell for bargain price'

The largest non-family shareholder of Matalan today said the discount clothing retailer was worth a lot more than founder John Hargreaves is planning to pay for it.

David Herro, fund manager at Harris Associates, which owns 6.9% of Matalan, told The Sunday Telegraph that Matalan is worth 300p a share, or £1.2bn (€1.7bn).