FRANKFURT, March 10 German retailer Metro
on Friday stuck with plans to split into two
businesses by mid-year despite four lawsuits brought by
shareholders against it.
"Individual shareholders have initiated suits against this
at the district court of Duesseldorf," Metro said, without
disclosing their names.
"Despite these suits, Metro Group is maintaining the current
timetable for the completion of the demerger as well as for the
listing of the shares in the future Metro AG planned for
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
Erich Kellerhals, the founder of Media-Saturn who still owns
a stake of 22 percent the business, this week filed a legal
challenge against Metro's plans.
(Reporting by Ludwig Burger; Editing by Harro ten Wolde)