Iranian businessman Mr Robert Tchenguiz could make a £620 million (€867.8 million) bid for Britain's Selfridges in a move to trump an already agreed £598 million bid for the retailer, British media reports said yesterday.

Citing unspecified sources, the Observer newspaper said Mr Tchenguiz could bid as early as the end of this week for the department store group through bidding consortium Aletheia Partners. But the Business newspaper said Mr Tchenguiz's plan had suffered a blow after one of his main backers, Formula One boss Mr Bernie Ecclestone, withdrew support. Selfridges chief executive Mr Peter Williams has said he would consider a higher offer for the group that has just agreed a takeover with Canadian Galen Weston, who also owns the Brown Thomas Group in Ireland. - (Reuters)