MediaMarktSaturn and Fnac Darty to Forge European Retail Alliance
16 Maio 2018 - 5:51AM
Dow Jones News
By Anthony Shevlin
MediaMarktSaturn, which is majority-owned by Germany's Ceconomy
AG (CEC.XE), on Tuesday signed a memorandum of understanding with
and France's Fnac Darty (FNAC.FR) to start exclusive talks to
create a European retail alliance.
In a joint statement, both parties said the alliance will
comprise four core areas including strategic partnership agreements
with key suppliers as well as innovation and data
collaboration.
The MediaMarktSaturn Retail Group generated total sales of about
22 billion euros ($26.15 billion) in 2016-2017 and is a commerce
company for consumer electronics and related services.
Fnac Darty posted pro forma revenue of EUR7.4 billion in 2017
and is France's second e-commerce player in terms of traffic.
The European retail alliance will be open to other parties and
no material financial effects are expected on 2018, the companies
said.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com
(END) Dow Jones Newswires
May 16, 2018 04:36 ET (08:36 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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