Kesa confirms Swiss talks

Comet parent in negotiations to sell loss-making chain in Switzerland
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Kesa Electricals has confirmed that it is in talks to sell its Swiss business to rival chain FUST for SFr20m (£11m).

According to Reuters, the two companies have entered exclusive negotiations that would see the parent company of Comet dispose of the operation.

However, the company has warned that it will not complete the transaction if it would result in a loss.

The announcement of talks comes a week before the retailer announces its full year results. It is also expected that new chief executive Thierry Falque-Pierrotin will outline his plans for the future of the company on June 24th.