Kesa has entered exclusive talks with Swiss electricals retailer FUST to sell its Swiss operation for CHF20m (£11.4m).

The Comet owner said that a sale would not result in a loss and that negotiations will include obtaining certain approvals that should be completed in the coming weeks.

Last month Kesa announced a restructure of its UK and Spanish businesses. In its fourth quarter to April 30 like-for-like sales fell 7.5 per cent.

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