Questions remain over the future of German discount retailer Plus with owner Tengelmann refusing to be drawn on reports that a deal is imminent.
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Over the weekend, there were claims in Germany that Tengelmann, which also owns US retail group A&P, was finalising a deal with local retail group Rewe.
However, a Tengelmann spokesperson said there has been no progress in recent days. “We are having discussions with Rewe but also with other parties. There has been no decision.”
Tengelmann is looking to sell a majority stake in Plus to an outside investor in an attempt to revitalise the business.
Tengelmann has met with officials from Germany’s Federal Cartel Office to discuss its strategy for Plus. The company wants to set up a joint venture to run Plus, while keeping a stake – believed to be 25-30% – in the business.
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By GlobalDataOfficials at Rewe had failed to return requests for comment as just-food went to press.
