ESPGY Esprit Holdings Ltd Hkd (PK)

Japanese clothing company Fast Retailing Co. (9983.TO) is considering buying a bigger rival in the U.S. or Europe as the yen's strength has boosted its purchasing power, Bloomberg News reported Monday on its website, citing Chief Executive Officer Tadashi Yanai.

"The yen strength and anemic stock markets make this a very good opportunity for M&A," the report quoted Yanai as saying. "It won't be something small, but a company of equal size or bigger," he said in the report.

Fast Retailing "does not need any brands" and won't be considering companies such as Esprit Holdings Ltd. (0330.HK), while Polo Ralph Lauren Corp. probably won't agree to an acquisition, the report said, citing Yanai.

Full Story: http://www.bloomberg.com/news/2011-11-04/fast-retailing-seeking-acquisitions-in-europe-u-s-correct-.html