The shareholders decided to split up Metro

According to the statement of the company, on Monday that 99.95 percent of the voting share capital represented voted in favour of the split.

Metro hopes the split will help the independent companies pursue more acquisitions and trigger a revaluation of the stock as Metro currently trades at a discount to other pure wholesale retailers such as Sysco and Britain’s Booker.

Metro last week reported slightly lower than expected profit in the critical Christmas quarter, hurt by the performance of its cash and carry and hypermarket businesses.

Metro plans to spin off and separately list the food business by the middle of the year, with that group retaining the Metro name while the Media-Saturn consumer electronics business will be renamed Ceconomy. (portfolio.hu, Spiegel)