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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Currys gets green light for sale of Greek business

(Sharecast News) - Currys said regulators had approved the sale of its Greek and Cypriot retail business Kotsovolos to Public Power Corporation for an enterprise value of €200m (£175m). The UK electrical retailer said it expected to get around £156m net from the deal and use the cash to pay down debt. Currys is currently fending off bids from private equity predator Elliott, which reportedly last week made a second £800m bid for the troubled business having had an initial £700m offer rebuffed.

JD.com, the Chinese e-commerce giant, last month said was at the early stages of considering an offer. UK takeover authorities have given it and Elliott until mid-March to lodge binding offers for the retailer or walk away.

Reporting by Frank Prenesti for Sharecast.com

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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