DSG more cautious now after being stung by fraud in France

I should think so too! Due diligence is absolutely critical before acquiring a business. It is also of the utmost importance that it is thoroughly carried out. Its a bit like marriage, rush in... and you can repent at your leisure.

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John Clare, DSG chief executive, on how the fraud case is affecting the group’s plans for Russia

John Clare, chief executive of DSG International, is to increase due diligence on a possible acquisition in Russia after uncovering a £10m ($19.6m) fraud at a recently acquired business in France.

The electronics group, which owns Currys in the UK, Thursday announced that warehouse workers in Paris had defrauded the company in an elaborate scam that wiped out the £8m-£10m profits that had been expected this year at Fotovista, the internet retailer acquired last year for £185m. Read more (if you have an FT subscription)