Shares in Woolworths were again suspended this morning with the crisis-hit group poised to complete the sale of its DVD business to venture partner BBC Worldwide.
Woolworths is set to complete the sale of 2entertain to the BBC, which already holds a 40% stake in the DVD publishing business, in a deal thought to be worth more than £100m.
Trading in Woolworths’ shares was subsequently halted after a request from the board of directors.
The sale, which could yet be blocked by Woolworths’ lenders, comes as part of a bid to keep the group out of administration, with talks continuing about the sale of its struggling retail arm to US turnaround specialist Hilco.
In a statement the Woolworths board would confirm only that discussions were ongoing about the sale of both its retail arm and 2entertain, naming BBC Worldwide as the prospective buyer but stressing that no deal had yet been concluded.