Kesa Electricals, Europe's third-largest consumer electronics retailer, has rejected a £1.7bn (€2.5bn) takeover offer from a consortium of private equity firms.

Kesa, which was demerged from UK retailer Kingfisher in June 2003, said today that the 325p per share conditional proposal "undervalues the company and its prospects".

Vivek Ahuja

BNP Paribas

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Kesa snubs £1.7bn offer

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