1035 GMT - WH Smith didn't have a strong case to fight its corner to keep the original price of the high street business, AJ Bell investment analyst Dan Coatsworth says in a note. The U.K. retailer has cut the sale price of its high street business by 12 million pounds after investment company Modella demanded a lower price. Modella cited a weaker-than expected performance and a cautious outlook under the new ownership. Aside from Modella Capital, there wasn't a long queue of other parties hoping to buy the assets. Hence, WH Smith could have risked the deal falling apart completely, Coatsworth says. "The money is peanuts to WH Smith and it's probably happy to wash its hands off the business at any price," the analyst adds. Shares trade 3.8% lower at 10.86 pounds. (maitane.sardon@wsj.com)
(END) Dow Jones Newswires
June 30, 2025 06:36 ET (10:36 GMT)
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