Waterford Wedgwood Buys Into Rosenthal

Waterford Wedgwood (expected profits of IR£39m in 1996), is set to acquire a 9.1% stake in the German group Rosenthal for around IR£3m. It also has an option to acquire another 15% in the next four years. Finance director Richard Barnes said the move would help exports into European markets. "We sell very little in Germany, where Rosenthal has widespread distribution and a 25% market share." The deal was subject to approval by the shareholders at an extraordinary general meeting held on 31 January 1997. (whole item)