Ceconomy Considers Capital Increase of Up to 10%
19 Junho 2018 - 8:24AM
Dow Jones News
By Alberto Delclaux
Ceconomy AG (CEC.XE) said Tuesday that it is considering a
capital increase of up to 10% related to the potential transfer of
its Russian MediaMarkt business, confirming press reports that led
to the share price tumbling.
The German retailer said it is considering a capital increase in
light of the potential transfer, and to strengthen its balance
sheet for further strategic measures. A final decision on the
increase will be taken at a later date, it said.
Ceconomy said its talks with Russia's Safmar Group to transfer
its entire loss-making Russian MediaMarkt business could come to a
conclusion shortly.
At 1042 GMT, Ceconomy shares trade 9.5% lower at EUR7.83.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
June 19, 2018 07:09 ET (11:09 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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