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German retailer Metro in talks over sale of store chain

People shopping at a cash and carry market of Germany’s retailer Metro AG in the western German city of Sankt Augustin. Photo: Wolfgang Rattay/Reuters

People shopping at a cash and carry market of Germany’s retailer Metro AG in the western German city of Sankt Augustin. Photo: Wolfgang Rattay/Reuters

German retailer Metro yesterday confirmed that it was in talks over the sale of department store chain Kaufhof, adding it could do a deal if the price and strategy were right.

A Metro spokesman said the group had not reached any decisions yet and reiterated that conditions for a sale were appropriate price, a convincing concept for the future of the chain and solid financing.

Sources had told Reuters that the bidding for Kaufhof was heating up, with the owner of rival Karstadt making a new takeover offer and talks with Canadian retailer Hudson’s Bay (HBC) continuing.

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