Kesa Electricals to sell off Swiss stores

Kesa Electricals, best known in the UK for its Comet electricals stores, has confirmed it is in talks to sell off its Swiss operation.The company is in exclusive negotiations with Swiss electrical retailing chain FUST, which is interested in buying Kesa’s Swiss operations for SF20m (£11.4m).Kesa said the sale will not result in a paper loss for the group.Conclusion of the deal is subject to certain regulatory approvals which are expected to be obtained in a matter of weeks.