GERMANY/FRANCE: Intermarché restructures German operations
SPAR , a German subsidiary of French supermarket giant ITM Entreprises ( Intermarché ), expects to cut its 1999 operating losses in half this year. 1999 losses totalled €177m on turnover of €6.7bn. To achieve this, SPAR will be working more closely with its French parent, which holds a 75% majority stake. The strategy focuses primarily on gradually winding down the
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