Chilean retailer Ripley on Wednesday said it had talked with a number of companies about developing its business in Colombia and elsewhere, but had reached no concrete agreement.
Mexico's high-end department store chain Liverpool also said it has been in touch with Ripley but has not reached a deal, according to a statement.
Earlier on Wednesday, a Mexican newspaper columnist said Mexico's Liverpool was planning to buy a 50 percent stake in Ripley, which has operations in Chile, Peru and Colombia. The report sent Ripley's shares up around 27 percent.
"The company is permanently in contact with various parties in the global mass consumer industry, among those Liverpool, to exchange experiences, share good practice and explore business possibilities of mutual benefit," Ripley said in a statement.
"To date no concrete result has been reached."