DUESSELDORF, March 3 German retailer Metro
is monitoring market conditions, including the turmoil
in Ukraine, as it proceeds with plans to list a stake in its
Russian wholesale business.
Metro has made good progress in preparing for an initial
public offering, although market conditions need to be
favourable and it is assessing the situation in Ukraine, a
spokesman for the company said on Monday.
Shares in Metro fell 5.2 percent in early trade, making them
the biggest decliners among European retail stocks, on
concern that turmoil in Ukraine could scupper the listing plan.
The company was hoping to raise at least 1 billion euros
($1.38 billion) by selling a quarter of its Russia
cash-and-carry unit in a London listing, organised by Goldman
Sachs and Sberbank.
Shares in Russian hypermarket chain Lenta, which
made its stock market debut on Friday, fell 8.9 percent.