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Arcandor-Metro discussing Karstadt store merger
22 May '09
2 min read
In light of the current media coverage regarding possible state aid for Arcandor and its department store subsidiary Karstadt, METRO Group emphasises that currently no merger negotiations with Arcandor are taking place. In this context we already indicated to the general public and politicians that METRO Group principally opposes state aid for regulative and competitive reasons.
Moreover, METRO Group has signalled to the politicians that it is open for comprehensive and constructive talks with the objective of finding economically feasible solutions for the Karstadt department store locations. In order for these talks to be rewarding it is necessary that in addition to the companies and the government taking part, also landlords, banks and labour representatives should partake.
METRO Group with its sales division Galeria Kaufhof is successfully positioned in the department store market segment and set the course early on for a sustainably profitable business development.
METRO Group is one of the largest and most international retailing companies. In 2008 the Group reached sales of € 68 billion. The company has a headcount of some 300,000 employees and operates over 2,100 stores in 32 countries. The Group's performance is based on the strength of its sales divisions which operate independently in their respective market segment: Metro/Makro Cash & Carry – the international leader in self-service wholesale, Real hypermarkets, Media Markt and Saturn – European market leader in consumer electronics retailing, and Galeria Kaufhof department stores.
Moreover, METRO Group has signalled to the politicians that it is open for comprehensive and constructive talks with the objective of finding economically feasible solutions for the Karstadt department store locations. In order for these talks to be rewarding it is necessary that in addition to the companies and the government taking part, also landlords, banks and labour representatives should partake.
METRO Group with its sales division Galeria Kaufhof is successfully positioned in the department store market segment and set the course early on for a sustainably profitable business development.
METRO Group is one of the largest and most international retailing companies. In 2008 the Group reached sales of € 68 billion. The company has a headcount of some 300,000 employees and operates over 2,100 stores in 32 countries. The Group's performance is based on the strength of its sales divisions which operate independently in their respective market segment: Metro/Makro Cash & Carry – the international leader in self-service wholesale, Real hypermarkets, Media Markt and Saturn – European market leader in consumer electronics retailing, and Galeria Kaufhof department stores.
METRO Group
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