COFRA Holding AG, the parent of C&A AG, on October 19, 2020 refuted media speculation about plans to exit from Brazilian C&A Modas S.A. (BOVESPA:CEAB3). The statement came in response to a article published by Brazilian daily newspaper Valor earlier that day saying that the fashion retailer is willing to sell its 65% stake in its local publicly-traded unit in a push to focus on its European operations. "Cofra confirms that no process is currently underway with regards to C&A Modas SA and Cofra remains supportive of the business and its performance," according to a filing by C&A published later on October 19, 2020.