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France: Competition authority probing Fnac Darty store sales

By  |  September 11, 2017

France’s competition watchdog said it would examine the conditions under which music and book chain Fnac Darty is honoring its commitments to sell six stores in the Paris region, following Fnac’s takeover of Darty.

In July 2016, the French Competition Authority had authorized the acquisition, provided that the combined unit get rid of six stores by the end of July 2017.

However, Fnac Darty has not managed to meet those terms as three of the stores had not been sold yet.

The group said on Monday, September 11, that it had found buyers for two of those three stores, but the sales had not been approved by the competition watchdog.

As for the third store, the chain said it had asked for an extension of the deadline granted to fulfill its commitments, which had been refused by the watchdog.

Full Content: Global Competition Review

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