Knight Vinke has plan for Comet

Kesa Electricals' largest investor said it has put forward a plan to the retailer's board for its loss-making Comet business in the UK that it wants considered as an alternative to disposal. Activist shareholder Knight Vinke, which has a 19.3 per cent stake in Kesa, Europe's third-biggest electrical goods retailer, said yesterday it met with Kesa last week and had made it clear that it would not support any plan to close down or liquidate Comet if there were other options for the 250-store chain.