Welcome to the new Independent website. We hope you enjoy it and we value your feedback. Please contact us here.

Kingfisher talks

KINGFISHER, the retail giant, said it was in alliance talks with France's largest do-it-yourself chain, Castorama, but denied it was planning a pounds 2bn takeover bid.

A spokesman for the UK company, which owns B&Q and Woolworths, said the groups were discussing joint ventures to increase their strength on the Continent and ways of pooling buying and logistics. Kingfisher shares fell slightly to 473.75p.