Germany’s biggest food retailer Edeka Zentrale AG wants to buy the discount supermarket chain Netto, according to the Handelsblatt newspaper.
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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.
