Metro shares rise on talk of hypermarkets sale
FRANKFURT (Reuters) - Shares in German retailer Metro (MEOG.DE) rose as much as 3.5 percent on Thursday, with traders pointing to talk the group was on the verge of selling its hypermarket operations in eastern Europe.
Metro, which runs hypermarkets via its Real division, declined to comment.
Its shares then pared gains and were up 1.7 percent at 8:26 a.m. EDT.
Metro is in talks with several parties over the sale of the assets, with French rival Auchan as the frontrunner, sources familiar with the situation had told Reuters at the weekend.
(Reporting by Tom Koerkemeier and Matthias Inverardi; writing by Victoria Bryan)
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