Czech billionaire Daniel Kretinsky appeared to be nearing victory on Sunday in the battle to take over French retailer Casino (CASP.PA) after the 3F Holding consortium abandoned its bid, citing a “biased process” and lack of information.
Kretinsky has been vying to take control of Casino against the 3F Holding group, led by telecoms entrepreneur Xavier Niel, investment banker Matthieu Pigasse and businessman Moez-Alexandre Zouari.
A new deadline for rival bidders to present their rescue offers for Casino had been set for July 14 as the retailer reported a further drop in sales in the second quarter.
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