GERMANY: Monopolies Commission chair reaffirms rejection of Kaiser's deal | Progresiv

The chair of the German Monopolkommission (Monopolies Commission), Daniel Zimmer, has reaffirmed the Commission's rejection of the acquisition of Kaiser's Tengelmann by Edeka, in an interview with a daily newspaper.

Zimmer told Welt am Sonntag that he believes the Commission's decision to reject the deal was correct, due to the number of stores currently operated by Edeka, and the fact that the deal could lead to job losses. "No matter who takes over, it is in any case that the termination of employment contracts will follow," Zimmer told the paper.

The Federal Ministry of Economics is to discuss the proposed deal in more detail following last ditch efforts from Edeka and Tengelmann to save the deal. (www.esmmagazine.com)