The businessman, who rose above 25% in the capital of Fnac Darty, “does not intend” to take control of the distribution group.
The Czech billionaire Daniel Kretinsky continues to rise in the capital of Fnac Darty. On Wednesday, he crossed the threshold of 25% of the distributor’s capital, becoming its largest shareholder ahead of the German Ceconomy, which held 24% of the capital at the end of 2022, and the controversial telephone insurer Indexia, ex-group SFAM, which owns 11%.
According to a press release published Wednesday by the Autorité des marchés financiers (AMF), Daniel Kretinsky “plans to continue its share purchases but does not want to take control of Fnac Darty, nor does it plan to seek the appointment of one or more members of the group’s board of directors.
At the end of February, an article from BFMTV which lent Daniel Kretinsky the desire to buy back the shares of Ceconomy and to take control of the French distributor had caused the stock market price of the distributor to soar. Ceconomy had, however, denied that it intended to sell.
Net loss of 32 million euros
Daniel Kretinsky is an opportunistic investor, ready to seize the opportunity offered by a stock market decline. Fnac Darty shares have lost 27% of their value since May. Inflation weighs on the purchasing power of the distributor’s customers while its costs increase. In 2022, it posted a net loss of 32 million euros. He expects sluggish activity in 2023. Last February, Daniel Kretinsky specified, however, that investing in Fnac Darty was a ” long term opportunity “. “Fnac Darty enjoys a very strong position on the French market, a solid position in Benelux or on the Iberian Peninsula(…), then explained his company.We value Fnac Darty’s omnichannel proposal and particularly appreciate the quality of its management. »
