business news in context, analysis with attitude

There are mixed reports in the media about Tesco’s plans for Italy.

One report, in Il Sole 24 Ore, says that Tesco is negotiating to buy the 130-unit Esselunga, which reportedly is on the market.

But subsequent reports out of the UK say that Esselunga chairman Bernardo Caprotti has called the two companies “incompatible,” and denied that there has been any contact between the two entities.
KC's View:
Our general feeling about such denials is that about 50 percent of the time, it is just a matter of time before the deal gets consummated.

We do, however, love Caprotti’s colorful description of the media reports suggesting that negotiations were ongoing – he called them “a free journalistic interpretation.”

Now there’s a phrase to be savored.