14 December 2011 - German retailer Metro AG's (ETR:MEO) supervisory board will not select a buyer for department store chain Kaufhof at its meeting on Friday, as it is waiting for further information on the bid from Austrian investor Rene Benko, Reuters reported today, citing several informed people.
Metro's board is also worried about a money-laundering investigation at Benko's group Signa, one source told the news agency.
Nicolas Berggruen, who owns domestic rival chain Karstadt, has also shown interest in the chain, Reuters said.
Metro has valued Kaufhof at between EUR2bn (USD2.6bn) and EUR3bn.
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