Metro, the German retailer, is taking the fight to rival Best Buy by opening a chain of consumer electronics stores in China, where the US group operates 161 shops after opening a first site in 2003.
The Düsseldorf-based company said its Media Markt unit, Europe's market leader in consumer electronics, was teaming up with Taiwan-based Foxconn Technology to open a store in Shanghai in 2010, the first of “potentially hundreds”.
Eckhard Cordes, Metro chief executive, said Media Markt's strength in Europe, where it runs 546 stores in 16 countries, gave it “an excellent positioning” to enter and expand rapidly in China.
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