German consumer electronics retailer Ceconomy said it will reconsider its rapid pace of expansion in Turkey in light of the lira's recent collapse, but saw no reason to change its long-term view on the country's prospects. Turkey has been a driver of Ceconomy's expansion and profit growth in the past few years but Chief Executive Pieter Haas
said the company will now review plans to open up to another 20 stores there in the next few years. Sixty nine of Ceconomy's more than 1,000 Media Markt and Saturn stores are in Turkey and concerns about its Turkish business helped send Ceconomy shares down 6 percent by 0900 GMT.