Tuesday , June 22 2021

The Cartel Office apparently doesn't mind the merger of the department store



Karstadt and Kaufhof branches

DusseldorfAccording to insiders, the Bundeskartellamt will not place any obstacles on the streets of the Kaufhof and Karstadt department store chains during their mergers. The antitrust authorities will release plans for a merger without an in-depth review, saying several people were familiar with Reuters operations on Thursday.

The "FAZ" also reports on upcoming releases of plans by antitrust authorities. In the first phase until Friday, the Cartel Office had time to examine the plan. A spokesman for the antitrust agent did not comment on the information and referred to the deadline deadline on Friday.

A spokesman for the Kaufhof HBC owner said the group was awaiting the decision of the competition guard, a spokesman for the owner of the Karstadt Signa could not be reached.

The North American retail giant HBC and Signa Austria was launched in mid-September a joint venture of two former rivals. The combined business resulted in sales of € 5.4 billion in 2017 according to HBC. Joint ventures must employ 32,000 people.

Especially in the workforce Kaufhof worried that it could cause a lot of layoffs. Karstadt owner Rene Benko meanwhile rejected speculation about the termination of a big job at Kaufhof on the way to Warenhausfusion.


Source link