00:01Sainsbury's has reportedly agreed to sell Argos for £120m. The supermarket is reportedly set
00:07to focus on its food business. The retailer says it expects little immediate change for customers,
00:13with Argos continuing to trade from Sainsbury's stores, offering Habitat products and nectar
00:17points. The business is being bought by Swift Partners, a newly created company, including
00:24former Co-operative Group Chief Executive Richard Pennycook. Sainsbury's says it will be business as
00:31usual for customers, staff and suppliers while the sale is completed. The deal is expected to
00:37finish next February, subject to the remaining steps being completed.
