BHS boss, Philip Green is expected to delay bidding until after the supermarket group releases its year-end trading statement in the middle of April.

The Competition Commission, which is looking into the bids made by Morrison's, Asda, Tesco and Sainsbury's, has pledged to do all it can to rule on bids ahead of August 12 – the Department of Trade and Industry's deadline. But the Office of Fair Trading has proposed a change to the definition of supermarket competition – by altering the guidelines of what constitutes a competitive local market.

Wal-Mart, ownersof Asda, reiterated its interest. Asda's chief executive Tony DeNunzio said: 'We look forward to co-operating fully with the Competition Commission. We have a strong case for being allowed to buy Safeway which we will pursue vigorously.' The uncertainty over Safeway's future has already lasted two months and the earliest an announcement is expected is mid-September.

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