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.