Fnac/Darty could be asked to sell back 40 stores to get regulatory clearance
France's antitrust regulator could ask French electronics retailers Fnac [EPA:FNAC] to sell between 20 and 40 stores, French daily Le Figaro reported citing several sources. The proposed GBP 900m (EUR 1.04bn) acquisition of Darty [LON:DRTY] by Fnac is currently under review from Autorité de la concurrence, the French Competition Authority, which announced via its Chairman Bruno Lasserre that it would, incorporate in-store and online sales for the definition of the pertinent market, because both markets are considered be in a state of "competitive interaction".
He added that in some of the markets that Fnac and Darty were operating such as brown and white goods, the ecommerce could account for about 20% of the sales.
According to the report, the commitments requested by the Authority could include the sale of stores in areas considered “dense”, such as the Ile de France region. Fnac and Darty operate 600 stores combined. The report went on to say that the French antitrust is expected to release its decision after July 14.
Le Figaro