DÜSSELDORF (dpa-AFX) - Electronics retailer Ceconomy with its Saturn and Media Markt chains could become a takeover candidate, according to a press report. The company has been undergoing restructuring for years and has lost most of its stock market value since its spin-off from the Metro retail group in 2017. The European market leader in electronics retail could thus become a bargain for investors or competitors, writes Handelsblatt (Wednesday).

"In a historical comparison, Ceconomy's valuation is not particularly ambitious," the report quotes Volker Bosse, an analyst at Baader Bank. That's why the company could well become a potential takeover target. "Ceconomy could also become part of a European consolidation among electronics retailers in the process," the industry expert surmised.

There are said to have been talks "in the recent past" to merge Ceconomy with the French electronics retailer Fnac Darty, writes the "Handelsblatt" with reference to financial circles. An insider said that the attempts had not yet been particularly concrete, but rather a "mutual sniffing around". However, a due diligence, i.e. an audit, is said to have already been carried out. A Ceconomy spokesman said in response to a question from the newspaper that a merger was not currently an issue.

The Ceconomy share, which is listed on the SDax, jumped significantly on Wednesday morning. Most recently, the share price rose 11.5 percent to 2.57 euros. The share had reached a low of around 1.10 euros at the end of September. By comparison, the share had started trading at 9.32 euros in July 2017 after the spin-off.

Ceconomy had acquired a 24 percent stake in Fnac Darty in 2017, making it the largest single shareholder. The companies also have a long-standing partnership, including in purchasing.

The majority of Ceconomy's stake is in the hands of a few shareholders. "This would make a takeover or a merger with a European competitor easier," the "Handelsblatt" quotes analyst Bosse. Especially after the previously complicated shareholder structure has been simplified.

The largest shareholder with 29 percent is now Convergenta, the company of the family of the late Media-Markt co-founder Erich Kellerhals. Only last year, Ceconomy and Convergenta had reached an agreement on the previously complicated intertwining of the companies, with the family company converting its previous blocking minority in the Ceconomy subsidiary Media-Saturn Holding into shares in Ceconomy.

The Haniel family company currently holds 16.7 percent of Ceconomy, the Meridian Foundation 11.1 percent and Beisheim-Holding 4.8 percent. All three acquired their shares in the course of the spin-off. Freenet also has a 6.7 percent stake./nas/tav/jha/