Not interested in Kingfisher

The Financial Times reports that Home Depot is not going to buy its way into the European DIY market through the acquisition of Kingfisher. This puts an end to the speculation, which has been going on for years now, about the arrival of the world's number one DIY retailer on the European scene. As CEO Bob Nardelli explained in an interview with the newspaper, Home Depot wants to expand in China, and to take advantage of the opportunities available in northern and central America. In his opinion, investment in the European market is problematic because of the current level of growth and marked degree of fragmentation. The company is already having discussions in China with potential takeover candidates such as Orient Home and Home World.
Even if Home Depot is no longer interested in Kingfisher and entry to the European market, the US industry's number two, Lowe's, still remains as a possible purchaser of the UK DIY group and its B&Q, Castorama and Brico Dépôt sales channels. Reports as long ago as last spring revealed that the company was recruiting executives from the retail scene in Britain.