DUESSELDORF, Germany (Reuters) - Erich Kellerhals, the founder of Media-Saturn, has filed a legal challenge against plans by German retailer Metro MEOG.DE to split into two companies, a person familiar with the matter told Reuters.
Shareholders in Metro 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, by the middle of the year.
Kellerhals, who still owns a stake of 22 percent in Media-Saturn, suggested last month he was considering a legal challenge against the split.
A spokesman for Convergenta, Kellerhals’ investment vehicle, declined to comment. Metro also declined to comment.
Reporting by Matthias Inverardi; Writing by Christoph Steitz; Editing by Klaus-Peter Senger; and Ludwig Burger