Metro says there are talks on Kaufhof, no results yet

Wed May 20, 2015 6:30am EDT
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DUESSELDORF, Germany May 20 (Reuters) - German retailer Metro confirmed on Wednesday that it was in talks over the sale of department store chain Kaufhof, adding it could do a deal if the price and strategy were right.

A Metro spokesman said on Wednesday the group had not reached any decisions yet and reiterated that conditions for a sale were appropriate price, a convincing concept for the future of the chain and solid financing.

Sources had told Reuters that the bidding for Kaufhof was heating up, with the owner of rival Karstadt making a new takeover offer and talks with Canadian retailer Hudson's Bay (HBC) continuing. (Reporting by Matthias Inverardi; Writing by Emma Thomasson; Editing by Maria Sheahan)