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Media-Saturn founder plans to buy back chain from Metro -paper
May 15, 2014 / 6:11 AM / 3 years ago

Media-Saturn founder plans to buy back chain from Metro -paper

FRANKFURT, May 15 (Reuters) - Erich Kellerhals, the minority owner and founder of Media-Saturn Holding GmbH, plans to buy back the electronics chain from German retailer Metro, Sueddeutsche Zeitung said in its Thursday edition.

“We have thoroughly calculated and worked everything out,” the German newspaper said in comments it attributed to Kellerhals. “Funding is not the issue, particularly since I have interested investors,” Kellerhals told the paper.

Metro, the majority owner of the Media-Saturn chain has been wrangling for years with Kellerhals, who still owns a 22 percent stake, delaying the chain’s entry into e-commerce. Media-Saturn accounts for a third of Metro Group’s earnings. (Reporting by Monica Raymunt; Editing by Sophie Walker)

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