M&S/Sainsbury’s: Thorns of a dilemma

Has Britain’s ultimate middle-class dream bitten the dust? Marks & Spencer, the UK retailer, decided on Wednesday not to bid for rival J Sainsbury, at least as the situation currently stands, just hours after boss Stuart Rose told press to «watch this space». But the group’s vacillation shows it’s on the horns of a dilemma. And for that reason, Rose’s apparent gaffe might be smarter than it seems. On paper, a combination of the two bourgeoisie-friendly retailers could be the best thing for M&S....