European Retail Giant Media Markt Rebuffs Bid
London Germany's Media Markt, Europe's biggest electrical-goods retailer, has rejected a request from DSG International Plc to consider a bid for its closest rival, according to the Financial Times.
The report said Britain's DSG first made the informal approach in the spring.
The report also said Media Markt, owned by Metro AG, Germany's biggest retailer, was put off by the size of the potential deal.
"We never comment on speculation and rumor," a DSG spokesman said. "DSG is totally committed to its renewal and transformation plan. The management team is completely focused on that."
DSG runs just under 1,400 stores across Europe, while Media Markt has just over 500 outlets in 15 countries.