The Czech-based investment group EP Global Commerce (EPGC) has increased its stake in the German retail giant Metro by 5.4 percent, according to media reports. The group, owned by Daniel Křetínský and his Slovak partner Patrikem Tkáčem, exercised an option for the shares it had agreed previously with the electronics retailer Ceconomy. Ceconomy still has a one percent share in Metro, which it expects to hold onto until 2023, according to the Czech News Agency. Metro’s board turned down EPGC’s €5.8bn bid to take over the company, recommending to shareholders that they not accept such a low bid for the company. EPGC’s total shareholding in Metro is estimated at around 30 percent.
