BERLIN Dec 15 German retailer Metro
said it expects its consumer electronics unit, to be renamed
Ceconomy, to lead consolidation in the sector after it is split
from the wholesale and hypermarket food business next year.
Ahead of a capital markets day in Duesseldorf on Thursday to
present details of its plans to split the company, Metro said it
expected both companies to reach an investment rating and to
qualify for the German mid-cap index.
It said Media-Saturn, Europe's biggest consumer electronics
group which has long been seen as a potential candidate to merge
with Britain's Dixons Carphone, intends to use its "solid
financial structure... to lead consolidation in the sector".
The consumer electronics business will get a 10 percent
stake in the new wholesale and food business to strengthen its
capital base, with a six-month lock-up period for 9 percent of
that and a seven-year lock up for the other 1 percent.
(Reporting by Emma Thomasson; Editing by Maria Sheahan)