Currys has received offers for its Greek business from ‘several’ potential buyers, but noted it remained unclear whether any deal would go ahead.
The retailer said its strategic review ‘remains ongoing’, adding that it would provide a further update ‘when appropriate.’
The London-listed retailer said its board was evaluating the offers with the help of its advisers.
But, it added: ‘At this stage there can be no certainty as to the outcome of the review.’
Currys shares were up 3.4 per cent or 1.6p to 48.6p this morning, having fallen by around 18 per cent in the past year.
In June, Currys announced that it was launching a strategic review to evaluate all options in relation to its business in Greece and Cyprus, Kotsovolos.
The Kotsovolos chain operates around 90 stores across Greece and Cyprus and is, according to Currys, ‘performing and profitable.’
Last month Currys revealed its sales fell slightly in the first quarter and noted a continuing ‘challenging’ trading environment, especially within its Nordics arm.
The group, which operates 823 stores across eight countries, reported a 4 per cent drop in like-for-like sales for the first 17 weeks of the financial year.
That compared with the 7 per cent decline registered during the last financial year as a whole.
In the UK & Ireland, which accounts for 53 per cent of group revenue, like-for-like sales fell by 2 per cent, but revenue ticked up in July and August.
The group said robust sales in domestic appliances and mobile phones were offset by weakness in other categories like computing.
In the Nordics, where it trades as Elkjøp and generates 40 per cent of group revenue, like-for-like sales slipped by 8 per cent and the company said it was taking action to hit cost-savings targets, which included job cuts, offshoring and contractor removal.
Boss Alex Baldock said last month: ‘Our priorities this year are simple: to keep the UK&I’s encouraging momentum going, and to get the Nordics back on track.’
He added: ‘We’re making good progress on both, in what continues to be a challenging economic environment.
‘We remain confident that we’re building a stronger business that’s resilient today and fit to prosper in the longer term.’
Source: This is Money
