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Woolworths shares in halt for Masters news

AAP logoAAP 23/08/2016

Woolworths shares have been placed in a trading halt ahead of a likely announcement on the future of the supermarket giant's troubled Masters home improvement chain.

"The trading halt is necessary in connection with developments concerning Woolworths' home improvement joint venture businesses," Woolworths chief legal officer and company secretary Richard Dammery said in a statement on Wednesday.

Woolworths says the halt should only last until Thursday, when it is set to announce full-year results that will include a previously announced $3.25 billion first-half writedown related to the hardware joint venture with US retailer Lowe's.

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