German retailer Metro AG (MEO.XE) has launched a due diligence process for possible bidders interested in its Kaufhof department store chain, a Metro spokesman said Friday.

Further talks between management and potential bidders are expected to follow shortly, Metro said.

Potential bidders have been asked to signal interest by June 7, a person familiar with the matter said. However, the timing will depend on negotiations to sell Kaufhof rival Karstadt, which is undergoing a forced sale mandated by its insolvency administrator.

Metro has repeatedly stated that it faces no time pressure to sell Kaufhof.

-By William Launder; Dow Jones Newswires; +49 69 29 725 515; william.launder@dowjones.com
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