The company was established in 1964 by Ernst Schmidt and Wilhelm Schmidt-Ruthenbeck. In 2010, it was the fourth-largest retailer in the world measured by revenues, after Walmart, Carrefour and Tesco. Until 2020, it was also active in the general retail business through the Real division, which was sold to an investor consortium. Its current incarnation was launched in 2017 as a spun-off of old Metro AG, which continued to be a consumer electronics retailer and renamed itself Ceconomy. Following the 2022 Russian invasion of Ukraine which began on 24 February, many international, particularly Western companies pulled out of Russia. Unlike most of its Western competitors, Metro AG announced its intention to keep its business in Russia open, drawing criticism. Ukrainian government officials have called for a global boycott of the company. The Ukrainian office of MetroAG has allegedly been threatened by the company's headquarters in Germany due to the Ukrainian branch openly calling for sanctions on Metro's Russian branch. According to Ukrainian ex-minister Dmytro Dubilet the Ukrainian branch has received warnings to be disconnected from the centralized supply. In February 2023, the National Agency for the Prevention of Corruption of Ukraine included the company in the list of International Sponsors of War. More information...
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