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FNAC Sells Its Operations in Greece

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France’s retailer FNAC will close its three stores in Athens, after five years of presence in the Greek market.

The company will sell two of its branches to competitor Public while it will probably close its third outlet in Monastiraki, which had opened last November at a cost of EUR3.5 bil.

Public will also hire the staff employed in the two stores it will acquire

In 2005, as part of its international expansion program, the retail outlet FNAC entered had Greece in a joint-venture with local retailer Marinopoulos Group.
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