Ceconomy sees Fnac Darty stake as key to consolidation

Teknosa Ic ve Dis Ticaret

19/12/2018 10:30

BERLIN, Dec 19 (Reuters) - Ceconomy  CECG.DE , Europe's
biggest consumer electronics retailer, still sees its 24 percent
stake in France's Fnac Darty  FNAC.PA  as essential to its
desire for more consolidation in the sector even if it has no
imminent plans for buys.
    Ceconomy's outgoing finance chief Mark Frese made the
comment after the owner of the Media Markt and Saturn stores
gave a gloomy outlook for 2018/19 and said it needed to
acclerate plans for cost cutting at the company.  urn:newsml:reuters.com:*:nL8N1YO0LR
    Frese told journalists that Ceconomy still sees Fnac Darty
as the "golden key" to consolidation although the company needs
to focus first on restructuring its existing business rather
than acquisitions.
    
    

 (Reporting by Emma Thomasson; Editing by Maria Sheahan)
 ((+49 30 2888 5081; Reuters Messaging:
emma.thomasson.thomsonreuters.com@reuters.net))