Not in race to pick stake in Coffee Day Enterprises: ITC

Diversified group ITC on Wednesday denied that it was in the race to acquire Coffee Day Enterprises though it was approached for a deal.

A report had said the Kolkata-based group having presence in cigarettes to hospitality and IT, is considering a bid to buy stake in the Coffee Day Enterprises that runs Cafe Coffee Day chain.

When contacted, an ITC spokesperson said, "ITC receives enquiries from market participants on an ongoing basis which are suitably evaluated. One such enquiry was received from an intermediary on Cafe Coffee Day. However, no progress was made on the matter."