Billionaire Kretinsky launches bid for Fnac Darty

Czech investor Daniel Kretinsky wants to become the majority shareholder of Fnac Darty, in order to prevent Chinese giant JD.com from gaining too much influence over the electronics retailer via Ceconomy.

Concerns about JD.com

Last Friday, Kretinsky informed the board of directors of Fnac Darty of his intention to launch a “friendly” public takeover bid that would enable him to acquire 50% of the capital. “The board of directors of Fnac Darty unanimously welcomed the bid,” the retailer said in a press release.