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Tengelmann Sells Plus Discount Stores in Bulgaria, Romania to Lidl |
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German retailer Tengelmann has confirmed it is in talks to sell its discount retail chains in Romania and Bulgaria to its rival Lidl, which is part of Germany's Schwarz retail group, according to reports.
The news comes on the heels of reports that Lidl has indicated interest in acquiring the Bulgarian business of its German competitor Plus retail chain.
Tengelman, the parent company of Plus, owns 94 and 16 stores in Romania and Bulgaria respectively.
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