Polskie Supermarkety won't be created

Polish retailer Stokrotka, a subsidiary of Emperia has broken an agreement with Polomarket on establishing a capital company, Polskie Supermarkety due to "crucial discrepancies" between the sides, ISBnews reported citing a company statement. Earlier, anti-monopoly watchdog UOKiK had approved the transaction. Stokrotka stressed that the breaking of the agreement took place while no operational activities had been undertaken yet. Both firms reached an agreement in early May. Within Polskie Supermarkety, a joint sales department responsible for shopping policy coordination and development of a common brand as well as organization of direct import of goods was supposed to be created. Each of the firms would have a 50 percent stake in the new entity. Together, Stokrotka and Polomarket include 535 stores with an annual turnover of around PLN 4 billion.