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German retailer group eyeing Dixons, Currys

One of Germany's biggest retailers, Metro, might be looking into acquiring DSGi, the parent company of Currys, Dixons and PCWorld in a transaction that could be worth around £1 billion.

Dixons is present in 13 countries and could add around £8 billion annually to Metro's subsidiary, Media Markt-Saturn (opens in new tab), £13.5 billion turnover according to the Financial Times (opens in new tab).

The move would mark the emergence of a new retailer group with the financial clout that could stem the growth of Tesco and Carrefour, two of Europe's biggest stores chains, in the non-grocery field.

Eckhard Cordes, the chief executive of the firm, said that they are considering a number of possibilities including an Initial Public Offer, cross-border acquisitions and exploring markets well outside Europe.

The Metro group, which is already present in UK through Makro stores, has a foothold in 31 countries and has a revenue comparable to Tesco at £51 billion; unlike the British retailer though, Metro considers electronics and technology as being one of its core offerings, rather than an add-on.

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at ITProPortal.com where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.