Germany’s Metro AG, Europe’s fourth-biggest retailer by sales, will follow through with their spin off Real hypermarket and Cash & Carry business while holding onto 10 per cent interest to strengthen their capital base.
Benstein analyst Bruno Monteyne said the consumer electronics business could still decide in future to sell its stake in the food group, achieving the same result as a capital hike, but without the need for shareholder approval.
The two businesses, cash-and-carry and the struggling Real hypermarket, together bring in nearly 38 billion euros.
