Ceconomy CEO says no decision yet on Fnac-Darty stake

Reuters
Feb 11
Ceconomy CEO says no decision yet on Fnac-Darty stake

DUESSELDORF, Feb 11 (Reuters) - German electronics retailer Ceconomy CECG.DE has not yet taken a decision when it comes to its stake in the French chain Fnac Darty FNAC.PA, its CEO said on Wednesday.

Ceconomy will announce what it will do with the stake once it receives a concrete and detailed offer from Czech billionaire Daniel Kretinsky, who wants to take over the French chain, said CEO Kai-Ulrich Deissner.

"We have not yet made a decision," he added.

At the end of January, Kretinsky's EP Group said it planned to buy Fnac Darty through a public takeover bid valuing the retailer at around 1.1 billion euros ($1.31 billion).

Kretinsky is already the largest single shareholder in Fnac Darty, controlling around 28% of the shares.

The second-largest shareholder is MediaSaturn's parent company Ceconomy, holding just under 22%.

Ceconomy itself is being taken over by Chinese tech group JD.com 9618.HK.

($1 = 0.8391 euros)

(Reporting by Matthias Inverardi, writing by Linda Pasquini, editing by Miranda Murray)

((linda.pasquini@thomsonreuters.com; +48 58 7785261;))

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