Retail tycoon Philip Green on Monday denied media reports he has lost interest in acquiring supermarket chain Safeway.

The owner of the Arcadia fashion empire said he is still considering a bid for the country's fourth-largest supermarket chain which is at the centre of a huge tug-of-war battle amid strong interest from Tesco, Sainsbury, Asda and Morrison.

Trackdean, a company controlled by Green's family, said in a statement today: "On January 28, 2003 Trackdean announced that it was continuing to evaluate a possible offer for Safeway. The situation remains unchanged."