THE Co-operative Group has confirmed for the first time that is trying to buy the Somerfield chain of food stores in a deal worth at least £ 1.5 billion. Group Chief Executive Peter Marks told thenews.coop that, despite intense media speculation to the contrary, no agreement has yet been reached with Somerfield's owners, a consortuium comprising Tchenguiz, Apax and Barclays Capital, and if the asking price is deemed to be too high, then the Group will walk away.