UK’s WH Smith says it is exploring potential sale of high street arm By Reuters

London (Reutes) – British Whitz retail trade explores potential strategic options for his British business, including sales after the media reports.

The company was “secret negotiations” on the sale of its entire high street, which has more than 500 stores, SKY News reported on Saturday.

Answering the reports, the group said: “WH SMIT confirms that he studies potential strategic options for this profitable and cash maker of the group, including possible sales.”

The company said that there is no confidence that any agreement will be reached and that it will provide updates to the process “as and when it is appropriate.”

Wh Smith’s High Street Arm is part of the most profitable travel business of retailer, which has about 1,200 stores in 32 countries.

“Three quarters of the group’s revenue and 85% of the commercial profits come from tourism business,” the statement said.