VIETNAM: Metro Group rejects interest in cash-and-carry arm
Metro Group confirms it has rejected an offer for its Vietnamese Cash & Carry
German retailer Metro Group has rejected unsolicited offers for its cash-and-carry arm in Vietnam.
Speaking to just-food, Metro said it was approached with a bid for the Vietnam business. According to press reports, the offer was in the region of $500m from Thailand's CP Group. Metro refused to be drawn on the value of the offer and the identity of the bidder.
"We have dismissed these offers," confirmed the spokesperson who highlighted the offers were "checked as a matter of form".
Metro is one of the biggest employers in Vietnam, with 19 cash-and-carry wholesale centres in cities like Ho Chi Minh City and Hanoi. At present, its Vietnamese operation employs 5,000 people.
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