April 11, 2018 / 12:00 PM / a year ago

Ceconomy could increase Fnac Darty stake-Haniel CEO

DUESSELDORF, April 11 (Reuters) - The chief executive of German investment group Haniel, the biggest shareholder in consumer electronics group Ceconomy, said on Wednesday he could imagine the company increasing its stake in French rival Fnac Darty.

Ceconomy, which split off from retail conglomerate Metro in part to allow it to become more active in acquisitions, last year took a 24 percent stake in Fnac Darty.

Haniel CEO Stephan Gemkow told Reuters that he could imagine that the stake would be increased, although he is not aware of concrete plans, adding that he could also imagine Ceconomy taking similar stakes in other companies.

Gemcow said that Metro and Ceconomy were developing in the right direction, although he said their share prices have been disappointing. Haniel, which trimmed its stake in the Metro conglomerate before the split, wants to increase the number of companies in its portfolio to 10 from six, he added. (Reporting by Matthias Inverardi, writing by Emma Thomasson Editing by Edward Taylor)

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