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Piecemeal rumours for Real are ‘nonsense’ says board Tuesday, 1st March 2011
Retail group Metro, who are responsible for the German hypermarket have dismissed any rumours of a piecemeal sale.
Joël Saveuse, a board member at Metro has confirmed to German press that the speculations have no grounds and that talk of a “bit by bit” sale is nonsense. In an interview last week Saveuse stated “Real’s development in Germany is something we are very proud of. In international business we have also experienced a fantastic year. 2010 was the first time in the history of Real that all outlets made a profit.”
Although Saveuse was adamant that a piecemeal sale would not be taking place, he confirmed that Metro would be making a statement in the next few weeks regarding the future of Real.
Real currently generates revenues of roughly EUR 11.6bn, has over 140,000 employees and operates hypermarkets in six European countries.