Time closes in on French market

Confirms talks with Continental Edison

Time Group today confirmed that it was in talks to buy Consolidated Edison, a big French PC maker, to the extent of entering due diligence.

Here is the statement in full:

"We are currently investigating many opportunities available to us, with many companies throughout Europe. We see further consolidation because of the tough conditions within the European market and view this as an opportunity to expand our business. Regarding Continental Edison, there have been no deals signed, although I can confirm that talks are in place and due diligence is being carried out.".

Continental Edison is the third biggest supplier of PCs in the French retail sector, according to Gartner Dataquest. It is owned by Cofidur, a French electronics subcontractor. ®