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Fnac Darty in exclusive talks to buy Eventim's French unit

Fnac Darty in exclusive talks to buy Eventim's French unit
FILE PHOTO: People walk past a Fnac retail store which sells books, electronics and CDs in Nice, France, January 10, 2019. REUTERS/Eric Gaillard   -   Copyright  ERIC GAILLARD(Reuters)
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PARIS (Reuters) – French electronic goods retailer Fnac Darty <FNAC.PA> Wednesday said it entered exclusive talks to buy the French unit of Germany’s CTS Eventim <EVDG.DE> in a bid to strengthens its ticketing business.

As part of the agreement, CTS Eventim, a European leader in the ticketing business, would acquire a 48% stake in France Billet, Fnac Darty’s ticketing unit, the two companies said in a joint statement on Wednesday.

CTS Eventim would have an option to raise its stake in France Billet to more than 50% after a four-year period.

The companies didn’t specify the amounts of the transactions.

In the first quarter, Fnac Darty already bought, a local ticketing rival.

(Reporting by Inti Landauro; Editing by Leigh Thomas)

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