November 29, 2012 / 1:46 PM / 5 years ago

Metro shares rise on talk of hypermarkets sale

1 Min Read

Shopping carts of Germany's biggest retailer Metro AG are lined up at a Metro cash and carry market in the western German city of Sankt Augustin near Bonn May 23, 2012.

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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