Background and Process
- Delisting Offer: The delisting offer by Daniel Kretinsky, who operates through his holding EP Global Commerce (EPGC), has been approved by the Federal Financial Supervisory Authority (BaFin). The offer started in March 2025 and ends on April 16, 2025.
- Voting Rights: EP Global Commerce has now acquired 50.01% of the voting rights in Metro AG, which indicates significant control over the company.
- Offer Price: The offer price for the remaining shares stands at €5.33 per share.
Impacts on Market Structure
- Market Liquidity: The delisting could impair market liquidity, as a significant player like Metro will no longer be publicly listed. This could lead to lower transparency and decreased trading volume.
- Investor Interest: Retail investors may turn away from the stock market as they have fewer opportunities to invest in such a company. However, large investors like Meridian and Beisheim remain involved.
- Strategic Direction: With the majority of voting rights, Kretinsky could influence Metro’s strategic direction, potentially leading to changes in corporate policy.
Impacts on the Investor Community
- Investment Alternatives: Investors will need to seek alternative investment opportunities, which could result in a redistribution of investments to other companies.
- Market Trust: The delisting could undermine trust in the market, particularly if investors feel they can no longer invest in such a company.
- Price Development: The price development of the Metro stock will be heavily influenced by the delisting. The current price is about €5.335, indicating a slight change over the past few days.
Comparison with Other Metro Companies
It is important to note that there is another company called Metro Inc., which is a leading Canadian food and pharmaceutical company. This company will not be delisted and has recently received positive analyst ratings. The confusion between the two companies could lead to misunderstandings, particularly regarding the impact on investors.
In summary, the delisting of Metro has significant impacts on market structure and the investor community. It remains to be seen how Metro’s strategic direction will evolve under Daniel Kretinsky’s control.