Metro is fighting for its independence
Two oligarchs might succeed in their stingy bid for the big German retailer
FOR A MAN who apparently likes to keep a low profile, Daniel Kretinsky makes a lot of headlines. In March journalists of Le Monde battled to prevent the inscrutable Czech oligarch from taking control of the prestigious French daily. On June 23rd the management of Metro, a German retail behemoth based in Düsseldorf, rejected a €5.8bn ($6.6bn) takeover offer from EP Global Commerce, an investment vehicle controlled by Mr Kretinsky and Patrik Tkac, his Slovak business partner, arguing that it “substantially undervalues” the company. The offer of €16 a share is a measly 3% above the previous closing price on June 21st.
This article appeared in the Business section of the print edition under the headline “From Prague, with cash”
Business June 29th 2019
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From the June 29th 2019 edition
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