Talks over the future of Tengelmann’s Plus discount stores in the Czech Republic are continuing but a conclusion is unlikely before Christmas, just-food understands.
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German retail group Tengelmann, which is weighing up the options for its Plus business throughout Europe, remains locked in talks over the future of its 133 stores in the Czech Republic.
UK retailer Tesco and Germany’s Rewe have been linked to the stores, with local reports claiming both companies have tabled rival bids worth EUR250m (US$360.6m) for the business.
A spokesperson for Tengelmann declined to comment on the identity of the potential suitors for its Czech stores but said negotiations were “continuing”.
Tesco, which already runs 93 stores in the Czech Republic, has refused to be drawn on its reported interest in the Plus business.
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By GlobalDataOfficials at Rewe could not be reached for immediate comment.
Last month, Tengelmann ceded control of its Plus stores in Germany after striking a deal with local retailer Edeka.
