Czechs increase control over Metro

Through their joint venture EP Global Commerce II, the Czech business moguls Daniel Křetínský and Patrik Tkáč have worked out an agreement with the company Ceconomy for the sale of a 3.6 percent share in the Metro retail group. The two billionaires have also secured an option for a further 5.4 percent of Metro, having picked up 7.3 percent of the company at the end of August from Haniel Group. The news server E15 reports that including the options they've bought along with shares, Tkáč and Křetínský could control more than 30 percent of the voting rights in the company. Given the splintered nature of Metro's shareholding structure, this would be the largest voting block in the company. Metro goup revenues were more than €37bn last year with profits of €345m.