Its intention to proceed with the sale of the electrical and electronic device retail sales company Kotsovolos announced today, with an announcement to the London Stock Exchange, the British Currys Group.

As stated in its relevant announcement, Currys Group announces today that it is beginning the strategic review of the Greek market leader company Kotsovolos, as part of a process that could lead to its sale. Kotsovolos, which also has an emerging presence in Cyprus, is a dynamic and profitable business, with high visibility, a unified sales platform and a diversified portfolio of products and services.

As noted in the same announcement, the group’s board of directors regularly reviews the group’s structure with a view to increasing shareholder value and believes that Kotsovolos’ strength, long history of profitability and market leadership are not reflected in of the present in the valuation of the Group. Given the strong development potential of Greece and the company’s growth prospects, the board of directors believes that now is the time to examine all options for Kotsovolos.

The Group’s Chief Operating Officer, Alex Baldock, said that “Currys’ performance is strong in the UK and Ireland, where our transformation is working, and we have taken steps to drive a profitable turnaround in the Nordics. Kotsovolos is an excellent business with a bright future and now is the right time to assess how best to take Kotsovolos forward to maximize value for our shareholders.”