The EPGC investment group owned by Czech Daniel Křetínský and Slovak
Patrik Tkáč, has submitted a public offer for the German business group
Metro. Reuters reported that EPGC had said in a press release that it was
offering amounts for shares that valued Metro at EUR 5.8 billion.
The bid is contingent on EPCG reaching sufficient shares to take control of Metro, a spokesperson for the former said.
Reuters said the investment was part of Mr. Křetínský’s strategy of diversifying his holding into the food and retail sectors. He already owns the tabloid Blesk and Sparta football club.
The Czech Republic’s Food Banks organisation has opened its first kitchen
and begun offering cooking lessons, Czech Television reported. The charity
says that many impoverished people don’t eat healthily and don’t know
how to handle the foodstuffs it provides to them.
On Tuesday professional chefs provided instruction at the Food Banks’ first cooking course. It plans to offer free lessons to single parents, seniors and the unemployed once a month.
Last year the organisation redistributed foods at a value of CZK 225 million. A law introduced in January requires large outlets to provide all their waste foodstuffs to the Food Banks.
The Anti-Monopoly Office has fined the food chains Billa and Penny Market
from the REWE group 164 million crowns for abusing their dominant position
on the market.
Both chains reportedly requested a special fee from their suppliers for buying their products, which is banned by the law. The decision is legally binding and both food chains have accepted it.
The Czech economy has been outperforming its central European neighbours and is set to reach something of a psychological milestone next year, when GDP per capita is on track to reach 85 percent of the Eurozone average. In more tangible terms, though, the average Czech is enjoying greater purchasing power, and confident they can always find work.
The centre-right Civic Democratic Party wants the lower house to review the
2016 legislation which stipulates that stores over 200 square metres must
remain closed on given public holidays. The party wants to see the law
scrapped on the grounds that it restricts the rights of both salespeople
and the public.
The legislation was approved thanks to support from the Social Democrats, Christian Democrats and the Communist Party. The ANO government, whose deputies voted against it in 2016, has now taken a neutral stand to the proposal. Under the legislation shops will be closed on December 25th and 26, and shopping hours on December 24th will be restricted.
Some 397 tonnes of foodstuffs were donated during the Czech Republic’s
fifth National Food Drive on Saturday, which is 70 tonnes more than in the
previous year, organisers from the Business for Society platform have
Some 750 shops, including stores owned by major chains such as Tesco and Lidl, took part in the event in which members of the public donated non-perishable foodstuffs for redistribution to those in need. This year, more than 4,000 volunteers and shop staff took part in the collection.