Germany’s biggest food retailer Edeka Zentrale AG wants to buy the discount supermarket chain Netto, according to the Handelsblatt newspaper.
Discussions with the French company ITM Enterprises, which owns Netto, are at an advanced stage, the paper said. A takeover of Netto would get Edeka into the discount sector.
A spokeswoman for Edeka did not want to comment on market speculation about the move, the paper said. It was unable to contact ITM for its position.