Investors shun Kretinsky's Metro offer - filing

Investors shun Kretinsky's Metro offer - filing
FILE PHOTO: German retailer Metro AG sign is seen on the headquarters in Duesseldorf, Germany March 02, 2018. REUTERS/Thilo Schmuelgen/File Photo   -  Copyright  Thilo Schmuelgen(Reuters)
By Reuters

FRANKFURT/DUESSELDORF (Reuters) – Investors are so far shunning EP Global Commerce’s takeover offer for German retailer Metro <B4B.DE>, which the company and some of its leading shareholders have rejected.

According to a filing from Wednesday, by July 30 only 0.46% of the shares were tendered by investors which had not beforehand agreed to sell.

Including shares already held by EP Global Commerce and shares which it can acquire using options, the total holdings stood at 33.18%.

EP Global Commerce, an acquisition vehicle owned by Czech and Slovak investors Daniel Kretinsky and Patrik Tkac, has set a minimum acceptance threshold of 67.5% for the offer, which runs until Aug. 7.

Metro shares were down 2.4% at 14.21 euros by 1222 GMT.

(Reporting by Arno Schuetze and Matthias Inverardi, editing by Louise Heavens)

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