LONDON, March 24 (Reuters) - Kingfisher's 275million euro ($302 million) takeover of do-it-yourself retailerMr Bricolage was thrown into doubt on Tuesday, afterit emerged board members and a major shareholder of its smallerFrench rival had reservations about the deal.
Kingfisher, Europe's No.1 home improvement retailer withchains such as B&Q in Britain and Castorama in France, said in astatement it had yet to receive clarification of the positionsof the majority of the board of Mr Bricolage and the ANPF, agroup of franchisees which is a major investor in the company.
"The implications for the transaction are currentlyuncertain. Kingfisher will update investors in due course," thecompany said. Shares in Mr Bricolage were suspended in Paris onMonday at the request of the company pending a statement.
Kingfisher said the Tabur family, another major shareholderin the French business and signatory to the agreement, remainedcommitted to the deal, which was announced in April last yearand is designed to beef up Kingfisher's position in France, itsmost profitable market.
Kingfisher entered exclusive negotiations with MrBricolage's two main shareholders to buy their shareholding for15 euros a share subject to anti-trust clearance, beforesubsequently making a mandatory offer to buy Mr Bricolage sharesheld by minority shareholders.
Shares in Kingfisher were down 2 percent to 364.9 pence at0812 GMT. ($1 = 0.9121 euros) (Reporting by Neil Maidment, editing by James Davey)