Kingfisher still open to offers
Float is official strategy for electricals business
November 18 2002
Kingfisher still plans to float its Comet and Darty electricals business next spring, but has made it clear that offers for either business will be seriously considered.
A report in the Observer newspaper at the weekend said the retail group was going increasingly cold on the flotation strategy due to the uncertain economy.
Responding to the report, a Kingfisher spokeman told news agencies there has been no change in strategy, but that chairman Francis Mackay has already said that he would consider offers at the right price.
Dixons, the UK market leader, would be prevented from bidding for Comet due to competition restrictions, but rival Powerhouse is said to be considering an offer. Both Dixons and MediaMarkt of Germany could be interested in Darty.
Reuters quoted a source close to the company who said that no serious approaches for the electricals business had been received so far.
