LONDON: Stores are closing across Europe as consumers shift to e-commerce and discounters barge in. Yet a pair of investors is making an audacious takeover bid for Metro AG, valuing the German chain that sells food and other staples from nondescript warehouses at US$6.6bil.
The offer by Czech billionaire Daniel Kretinsky and his Slovak investment partner Patrik Tkac goes against the grain, but they see an opportunity in Metro’s wholesale business model.
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