Coty Denies Report on Partial Galeria Karstadt Takeover (1)

(Updates with company comment)

A report by Business Insider on plans of US-retailer Coty to take over some Galeria Karstadt Kaufhof stores is “wrong”, a Coty spokesperson told Bloomberg News by phone.

• Business Insider said Coty is in talks to take over around 60 branches of the insolvent German department store chain, without saying where it got the information
• NOTE: With Benko Empire Wobbling, Signa Board Stays in Place
• NOTE: Galeria Sees Liberation From Signa in Third Insolvency of Decade

To contact the reporter on this story:
Laura Malsch in Frankfurt at lmalsch@bloomberg.net

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