By Patrick Avenell

Woolworths has issued a statement flatly denying media reports that the retail group is set to make an offer to purchase JB Hi-Fi. The statement, which was attached to both Woolworths’ and JB Hi-Fi’s web pages on the ASX site, is in response to what it calls “continued speculation”.

“Woolworths Limited is concerned about continued speculation regarding supposed offer discussions with JB Hi-Fi Limited,” read the statement.

“Woolworths can confirm that it is not currently in discussions of any nature with JB Hi-Fi’s board, management team, staff or advisers. Furthermore, the company has no current intention of entering or entertaining any such discussions and there is no offer to acquire JB Hi-Fi.”

The statement to the ASX is unsigned, and is labeled a price sensitive press release. When spoke to JB Hi-Fi chief executive officer Richard Uechtritz, he did not make any reference to this speculation, or to any takeover, merger or acquisition of JB Hi-Fi.