The owner of German discount stores Plus has started talks with the country’s competition watchdog over its plans for the business.

German conglomerate Tengelmann is looking to sell a majority stake in Plus to an outside investor in an attempt to revitalise the business.

Tengelmann, which also owns US retail group A&P, 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.

A Tengelmann spokesperson confirmed the plans when contacted by just-food this morning (24 September) and said the company hopes to finalise its plans by mid-November.

The spokesperson also confirmed that Tengelmann has held talks with German retailer Rewe over the Plus business and revealed further discussions had taken place with “other German retail groups”. She declined to name the other interested parties.