Lew stakes his claim in the DJs battle

Solomon Lew's disclosure of his 10 per cent stake in David Jones has created a number of options that will give him leverage over the retailer and Woolworths, but he needs to act quickly.

Any doubts about the seriousness of Solomon Lew’s intentions, or the magnitude of the threat he poses to South African retailer Woolworths’ ambitions, were dispelled today when he formally disclosed that he now owns almost 10 per cent of David Jones.

With speculation swirling that he may also have a hold on a further 5 per cent of David Jones via derivative contracts, Lew may already be in a position to block Woolworths’ $2.2 billion agreed bid for the department store group.

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