Billionaires Step Up Race for Casino as Kretinsky Boosts Bid (2)

Czech billionaire Daniel Kretinsky increased the size of his proposed equity investment in Casino Guichard-Perrachon SA as he competes with a trio of French business executives to take control of the debt-laden French supermarket operator.

Casino received offers from Kretinsky and the group led by telecom billionaire Xavier Niel as part of its its proposed restructuring, the company said in a statement Tuesday, without providing details. Trading in Casino’s shares was suspended after gaining 16%, while Naouri’s listed holding company, Rallye SA, rose as much as 110%.

Daniel Kretinsky

Photographer: Joel Saget/AFP/Getty Images

Kretinsky —- who is an existing shareholder of the grocer -— is ...