Metro to keep majority stake in Russian unit if IPO goes ahead
COLOGNE Dec 12 (Reuters) - German retailer Metro will keep a majority stake in its Cash & Carry Russia business if it decides to proceed with an initial public offering, Chief Executive Olaf Koch said on Thursday.
Koch made the comments at a news conference after Metro reported results for the shortened 2013 business year.
Sources familiar with the deal told Reuters last month Metro could list up to a quarter of the business in London by the second quarter of 2014.
Koch also said Metro had seen the positive sales trend of the nine months to September continue in the current quarter, the most important for the retailer in the run-up to the busy Christmas trading period. (Reporting by Emma Thomasson; Editing by Maria Sheahan)