Germany's New Consumer-Electronics King Has Amazon in Sights
- MediaMarkt parent’s listing creates focused electronics chain
- Chief sees deals looming as European retailers consolidate
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The creation of Europe’s largest free-standing consumer electronics retailer is set to prompt a wave of mergers and acquisitions as the company seeks to keep Amazon.com Inc. at bay.
The parent of Germany’s MediaMarkt and Saturn, which began trading Thursday under a separate listing from former parent Metro AG, is vowing to play a pro-active role in cementing the company’s No. 1 position in a European business roiled by the rise of e-commerce.