March 31, 2017 / 1:02 PM / 10 months ago

Court to decide in summer whether Metro can continue breakup process

DUESSELDORF, Germany, March 31 (Reuters) - A German higher regional court in Duesseldorf said on Friday it would decide within three months whether to allow retailer Metro to continue with a planned breakup process pending laswuits by shareholders against it.

Metro shareholders overwhelmingly voted last month to back a plan to split off the group’s wholesale and hypermarket food business from Media-Saturn, Europe’s biggest consumer electronics group.

Four lawsuits by shareholders have been brought against it, among others from Erich Kellerhals, the founder of Media-Saturn who still owns a stake of 22 percent in the business.

Reporting by Matthias Inverardi; Writing by Arno Schuetze; Editing by Georgina Prodhan

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below