Kotsovolos suitors are increasing

Kotsovolos suitors are increasing

Electrical goods retailer Kotsovolos is up for sale by British group Currys and is seeing the number of potential suitors growing by the week.

Interested parties should express their interest by early August, so they can gain more information on the British-owned chain in late September. Currys is said to be hoping for a conclusion by the end of the year.

For the time being the only company to have publicly expressed an interest in Kotsovolos is Plaisio Computers. Quest Holdings is unofficially interested in the network of Kotsovolos’ 95 stores in Greece and Cyprus, which would generate major synergies for the Athens-listed group. Company sources say no decision has been made yet.

Market players and analysts include the Cosmote Group among potential interested parties; it has a presence in retail – with an emphasis on telephony products – through the Germanos network, which in 2022 will amount to 263 stores. The market argues that financing such an acquisition would not be difficult for the OTE Group, or Public Power Corporation, which may also be interested, due to their strong position and size. 

Analysts further anticipate interest in Kotsovolos by the Fairfax fund, active in Greek retail through Praktiker. 

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