Hudson's Bay stalks department store chain Kaufhof

Canadian retailer Hudson's Bay is interested in acquiring German department store chain Kaufhof, two sources familiar with the matter told Reuters on Tuesday.

German retail giant Metro which owns Kaufhof has long said it would be prepared to sell the department store chain for a fair price as it focuses on developing its cash-and-carry and consumer electronics businesses.

In February, CEO Olaf Koch said that there were several interested parties.
Hudson's Bay has expressed interest in further acquisitions, but "everything is at an early stage," said one source, confirming a Women's Wear Daily report. Hudson's Bay and Metro declined to comment.