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Obi may soon replace Baumax

THE GERMAN DIY retailer Obi may soon take over the network of hobby markets Baumax, the Austrian website DiePresse.com reported.

(Source: TASR)

The retailer allegedly wants to rent dozens of shops, not only in Slovakia, but also in Austria, the Czech Republic and Slovenia. However, it does not plan big layoffs, the Sme daily wrote on its website.

Baumax has announced some time ago that it will withdraw from the Slovak market as part of the restructuring process. Currently it has 14 shops in the country whose value amounts to some €100 million, Sme wrote.

Obi will discuss a possible take over of Baumax’s with the European Commission in the coming days, the Aktuality.sk website wrote. The EC should check whether such a step will not result in a dominant position of the German group in the market.

Without its approval it cannot come to Slovakia.

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