Starbucks Corp (NASDAQ:SBUX) may sell its UK operations as it faces competition from newer players like Pret A Manger, Tim Hortons (TSX:THI) and Costa, with the world's largest coffee chain roping in American investment bank Houlihan Lokey (NYSE:HLI) to canvass interest for the company's UK operations, according to a report in the Times. However, a Starbucks spokesperson denied the report, saying the company has not initiated a "formal sales process" for its UK business and is continuing to "evaluate strategic options" for its international operations.