Johannesburg - The Foschini Group rose 2.13 percent on the JSE to close at R136.48 a share after reports that the fashion retailer was interested in acquiring UK contemporary clothing brand Whistles.
The UK-based Telegraph newspaper reported that it was not clear whether Foschini, was being offered a stake or full control of Whistles, which was said to have been revived under the stewardship of former Topshop chief executive Jane Sheperdson.
Read: Foschini Group rakes in Christmas profit
Foschini bought Phase Eight last year from private-equity firm Towerbrook in a move aimed at boosting its international expansion.
The report comes as South African retailers, including Steinhoff, are extending their tentacles into European markets as part of a plan to diversify their revenue streams as the rand weakened against the dollar.
BUSINESS REPORT