Entrepreneur Philip Green has dismissed rumours he was planning a fresh bid for Britain's Marks & Spencer today after shares in the store group rose on speculation the tycoon was planning a comeback.
But he left the door open for another approach and said he reserved the right to look at the company again if a third party expressed interest in the store group.
Mr Green made a failed £9 billion sterling approach to buy the firm last year.
M&S declined to comment on Green's statement.
Shares in M&S have risen more than 15 per cent since January when it warned full-year profits would be well below market expectations as chief executive Mr Stuart Rose struggles to turn around the fortunes of the British retailer.
M&S shares were little changed in early London trade, just 0.2 per cent lower at 366-3/4 pence, valuing the firm at around £6.1 billion.
The statement from Mr Green follows the expiry last month of a six-month ban by financial authorities on him making another approach following the collapse of his 400 pence per share indicated offer.
The stock hit a seven-month low in early January after M&S warned on full-year profits and confirmed fears of a Christmas sales flop that forced huge mark-downs in its end-of-season sale.