HK's Giordano confirms Fast Retailing approach

HONG KONG, Aug 5 (Reuters) Asian casual wear retailer Giordano International Ltd. said on Saturday that it has been approached by Japan's Fast Retailing Co. Ltd. , which runs casual wear chain Uniqlo, but no offer has been made.

Giordano's Chairman Peter Lau said in a statement that it had received an approach from Fast Retailing, ''which may or may not lead to any offer for the shares''.

''No offer has been made and no firm intention to make an offer has been indicated by the potential investor,'' Lau said.

Trading of shares in Giordano was suspended on Friday after media reports that Fast Retailing planned to buy a stake in the Hong Kong retailer. Giordano said it had applied to the stock exchange to resume trading on Monday.

The stock closed at HK.07 on Thursday.

Hong Kong-based Giordano, which has no single major shareholder, has a market value of about US0 million, less than one-tenth of Fast Retailing's US.8 billion.

REUTERS PV