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Ceconomy shrugs off challenge to Fnac Darty stake
August 31, 2017 / 6:55 AM / a month ago

Ceconomy shrugs off challenge to Fnac Darty stake

BERLIN, Aug 31 (Reuters) - German consumer electronics retailer Ceconomy rejected on Thursday criticism by a minority shareholder of its purchase last month of a stake in French music and book retailer Fnac Darty.

Erich Kellerhals, the billionaire founder of the Media-Saturn store chain who still owns a 22 percent stake in the business, has disputed that Ceconomy can increase its stake in Fnac Darty above 25 percent.

In a conference call with journalists on Thursday, Ceconomy Chief Executive Pieter Haas rejected that view, but said the company was comfortable anyway for now with the stake of 24.33 percent it announced it was buying last month. (Reporting by Emma Thomasson; Editing by Maria Sheahan)

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