🧵 1. Czech billionaire Daniel Kretinsky nears deal to buy French supermarket chain Casino, opening possibility of foreign rescue for the debt-ridden retailer. #business
🧵 1. Czech billionaire Daniel Kretinsky nears deal to buy French supermarket chain Casino, opening possibility of foreign rescue for the debt-ridden retailer. #business
🧵 2. French government reportedly not opposing the bid, but concerned about potential job cuts. Casino employed 50,000 people in 2022.
🧵 3. Kretinsky prevails as rival bidder drops out, leaving him as the sole contender for the struggling company saddled with €6.4 billion debt.
🧵 4. If sale goes through, it would mark the end of CEO Jean-Charles Naouri's 30-year reign amidst challenges from e-commerce and discount supermarket chains.
🧵 Read more at: https://www.euronews.com/2023/07/19/czech-billionaire-poised-to-buy-french-supermarket-chain-casino