German retailer Douglas says in takeover talks

FRANKFURT - German retail Douglas said it was in talks with a financial investor that could see the investor taking a significant holding in the company.

"Talks are being held between the company, certain major shareholders of the company and a financial investor," Douglas said in a brief statement on Friday, adding it was uncertain whether a transaction would actually go ahead.

Sources had previously told Reuters that U.S private equity firm Advent International was nearing a deal to buy a majority stake in the retailer, which runs perfume, clothing, books and confectionary stores.

Shares in Douglas were up 4.3 percent at 37.33 euros at 0950 GMT. (Reporting by Victoria Bryan)