Haniel ponders cutting stake in Metro.
German conglomerate Franz Haniel & Cie GmbH is mulling over lowering its stake in German retailer Metro AG (ETR:MEO) in order to reduce its liabilities, magazine Wirtschaftswoche wrote in its latest edition, quoting people in the know.
Haniel, in a shareholder agreement with Schmidt-Ruthenbeck, controls 50.01% in Metro. According to a manager at Metro, the shareholders will need 40% in order to continue having a say in the retail group.
Haniel examines its portfolio regularly and without having any taboos, Haniel's CEO Juergen Kluge told the magazine.Country: , GermanySector: Wholesale/RetailTarget: Metro AGVendor: Franz Haniel & Cie GmbHType: DivestmentStatus: Auction, Speculation