JD Sports is holding exclusive talks with a private equity group about selling Footasylum, according to reports.
The Bury-headquartered retail giant is negotiating with Aurelius Group, Sky News has said.
The move comes after JD Sports was ordered to sell Footasylum by the Competition and Markets Authority (CMA) over serious competition concerns.
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The group had originally agreed to buy Footasylum in a £90m deal in March 2019.
However the deal has been the subject of prolonged scrutiny ever since and recently came to a head when both companies were jointly fined almost £5m for breaching rules around the merger.
The talks also come after executive chairman Peter Cowgill stepped down suddenly in May after 18 years in the role.
JD Sports recently announced the appointment of a former boss of Tesco and Morrisons as its new chairman.
Shares in JD Sports closed up 1.7% on Wednesday at 139.8p, giving it a market capitalisation of just over £7bn.
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