THE owner of two Oxfordshire shopping centres has pulled out of a deal to takeover a rival, citing poor trading conditions on the high street.
Hammerson, which runs Bicester Village and the newly-revamped Orchard Centre in Didcot has backed away from a £3.4bn deal with Intu Properties.
The deal would have created the UK's largest property group but Hammerson said its investors were not convinced.
Weak sales from retailers, the rise of online shopping and concerns over an economic slowdown have all lead to a slump in share prices for landlords in recent years and added to shareholder concerns.
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