Metro AG

METRO India began operations in India in 2003 and was the first company to introduce a cash-and-carry business format in the country

Metro has been active in the Indian market since 2003 and reported sales of about Rs 7,700 crore for the financial year ended September 2022

The B2B model that METRO Cash and Carry is focussed on has a lot of opportunities in the Indian market, says METRO Cash & Carry MD & CEO Arvind Mediratta

Metro sold only to business customers as its German parent had to comply with India's FDI norms

Reliance Retail on Wednesday announced acquiring a 100 per cent stake in German retailer Metro AG

Business Standard brings you the top headlines at this hour

The acquisition includes 31 wholesale distribution centres, land and other assets owned by Metro

Representatives for Metro and Reliance declined to comment, while a spokesperson for CP Group didn't immediately respond to requests for comment.

The low-profile German cash & carry chain is suddenly finding itself at the centre of controversy as negotiations for the sale of its India business get underway

Traders' body CAIT on Thursday accused Metro AG of fund diversion and violating FDI regulations in India, a charge which the German cash-and-carry major rejected as "false and malicious". The Confederation of All India Traders (CAIT) raised serious objections over the business practices of Metro AG's Indian subsidiary Metro Cash & Carry. Metro Cash & Carry India currently operates 31 stores in the country under the brand Metro Wholesale. Metro AG, which had entered the Indian market in 2003, is now reportedly scouting for a partner to sell a majority stake in its Indian subsidiary. Several entities, including Amazon, Thailand's Charoen Pokphand (CP) Group, Reliance Retail, Avenue Supermarts (D-Mart), Tata Group and Lulu Group, are said to be in the race to acquire the majority stake. "As per the media reports Metro Germany is looking to sell the India business and make profits of over Rs 10,000 crore on its investment in India which is nothing but the diversion of funds by ...

The German group has been completely focused on its European operations at a time when there have been quite a few setbacks

The Centre is looking to woo top global investors for the sale of its stake in IDBI Bank as a team of senior government officials visits the US this week. Read more in our top headlines

In talks to buy a partial or full stake in German retailer's India unit

Why is the Indian market a hard nut to crack for foreign retailers?

Metro AG decided to exit India after 19 years. Is Indian market a hard nut to crack for international retail giants? Or India's business model is tilted in favour of local firms? Let us understand

Business Standard brings you the top headlines at this hour

Intends to raise $300-400 million as German parent unwilling to infuse fresh funds

The German retailer operates 31 cash-and-carry stores across India

IT services major Wipro on Thursday said it has completed the takeover of Metro-NOM GMBH and Metro Systems Romania SRL for 52.04 million euros (about Rs 448.6 crore)

Shares of Wipro on Wednesday jumped nearly 6 per cent after the company said it has signed a 700 million-digital and IT partnership deal with Metro AG

As a part of this transaction, Wipro will take over the IT units of Metro AG - Metro-NOM GMBH in Germany and Metro Systems Romania S.R.L