August 5, 2019 / 4:39 PM / 20 days ago

Czech investor Kretinsky won't raise offer price for German retailer Metro

FRANKFURT, Aug 5 (Reuters) - Czech businessman Daniel Kretinsky’s investment vehicle said on Monday it would not raise its 16-euros-per-share bid for Metro, after failing to reach an agreement with two of the German retailer’s top shareholders.

EP Global Commerce said it could not find common ground with Metro shareholders Meridian Stiftung and Beisheim Holding, which hold a combined 20.56% stake in Metro’s ordinary shares, citing “different views on the valuation”. (Reporting by Christoph Steitz; Editing by Susan Fenton)

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