Spinning out of control

9 Jun 2004 By Hugo Dixon

Shooting his mouth off at every opportunity is stopping the UK retail entrepreneur from making progress with his putative bid for M&S. Green is considered to be a topnotch retailer. But if he is to run a public company, he will have to get a lot better at communicating.

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Philip Green was on Tuesday forced by the Takeover Panel to clarify statements that he would drop his bid for Marks & Spencer if it were referred to the competition authorities. In his clarification, the UK retail entrepreneur said that his bid vehicle has yet finally to determine what it would do should an offer get referred.

This contradicted earlier statements from Green's camp. Green himself was quoted in The Times as saying: "We would not get involved in a competition reference . . . Everything lapses for six months and then it is a new game."

Green's proposed offer for the High Street chain is in cash and shares. But the UK retail entrepreneur said: By choice I would rather be private.

After making his potential offer for M&S, Green was interviewed by Jon Snow for Channel Four. He cut the interview short.

Green also had a row with Stuart Rose, M&S's new boss. The two men met in Baker Street. Green at one point reportedly shouted Oi! I want a word with you," and grabbed Rose by the lapels.

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