Metro's top investor Kretinsky is in for the long haul -CEO

Metro AG

27/10/2023 09:54

DUESSELDORF, Germany, Oct 27 (Reuters) - The chief
executive of German wholesaler Metro AG  B4B.DE  said its top
shareholder Daniel Kretinsky is invested for the long term,
batting away speculation that the Czech billionaire could
rearrange his portfolio as he eyes a stake in Thyssenkrupp
 TKAG.DE .
    "He sees himself as a long-term investor," CEO Steffen
Greubel told reporters at a press event in Duesseldorf on
Thursday evening.
    Kretinsky holds stakes in a number of European companies,
from the energy sector to media groups and retail. His
investment vehicle is currently in talks with Thyssenkrupp's
steel division over a 50-50 joint venture.
    Kretinsky holds a 46% stake in Metro, which has wholesale
customers in Europe and Asia, and operates as a retailer in the
German grocery market.
    When asked if he expected Kretinsky to exit Metro in view of
his planned investments, Greubel said no, though he said the
pace of restructuring at Metro was not as fast as its top
shareholder would like.
    "It's not fast enough for all of us," Greubel added.
    The CEO hopes to concentrate Metro's business on wholesale,
focusing on restaurants and hotels.

 (Reporting by Matthias Inverardi; writing by Rachel More;
editing by Jason Neely)
 ((rachel.more@thomsonreuters.com;))