Electronics
German Ceconomy, the holding that includes MediaMarkt and Saturn, has had a tough quarter due to negative currency and calendar effects. Still, the company reaffirms its prospects for the rest of the year.
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Ceconomy, parent company of MediaMarkt and Saturn, is putting its alliance with Fnac Darty on hold for now. The company wants to find a solution for its ongoing poor performance and financial troubles first.
Ceconomy, the holding owning electronics chains MediaMarkt and Saturn, has had a bad year: after CEO Pieter Haas' departure in mid-October, now financial director Mark Frese also quits.
General
MediaMarkt's owner Ceconomy has engaged in talks with investment group EP Investment about a possible sale of its interest in Metro, the German food group that also operates through Makro and Real.
Ceconomy, MediaMarkt's parent company, has sold its onerous Russian division to local electronics chain M.video. The German electronics giant does not quit Russia altogether however, as it continues as shareholder of M.video.
MediaMarkt’s parent company, Ceconomy, has the key to consolidate the European electronics industry even more. The retailer will sell services and solutions: “We help people make the right decisions.”
