FRANKFURT (Reuters) - Germany’s antitrust watchdog has cleared a potential acquisition of retailer Metro by Czech investor Daniel Kretinsky, a spokesman for the Federal Cartel Office said on Thursday.
Kretinsky had asked the agency to review his plans to buy a stake of 25-35 percent in the company, which the watchdog cleared. Any acquisition of more than 30 percent would trigger a mandatory takeover offer, according to German law.
People close to the matter had told Reuters last month, that Kretinsky’s vehicle Global Commerce (EPGC), co-owned by him and Slovak investor Patrik Tkac, was working on the financing for a possible tender offer.
Reporting by Matthias Inverardi; Writing by Arno Schuetze; Editing by Riham Alkousaa