German retail group Metro said that it has started negotiations with HTM Group, the owner of Auchan, for the sale of some or all of its Saturn stores in France. The move is part of a strategic review of the group's consumer electronics business in France which include the potential sale of the stores owned by its Media-Saturn-Holding subsidiary.
German retail group Metro said that it has started negotiations with HTM Group, the owner of Auchan, for the sale of some or all of its Saturn stores in France. The move is part of a strategic review of the group's consumer electronics business in France which include the potential sale of the stores owned by its Media-Saturn-Holding subsidiary.
'Other options include the agreement on strategic partnerships as well as to go forward with a new growth strategy,' the company said.
Media-Saturn currently operates 34 stores under the Saturn brand in France.
With a net revenue of EUR 19.7 bn and a headcount of more than 60,000 in 2009, Media-Saturn Group is a European leading consumer electronics retailer and currently operates 852 stores in 16 European countries.The decision to review Saturn's business in France is due to the 'very challenging economic environment' in the market.
