PARIS, Oct 8 (Reuters) - PPR will announce its plans for a possible stock market listing or spin-off of book and CD retailer Fnac following a presentation to staff on Tuesday, a source familiar with the matter said on Monday.
The plan will then be put to shareholders for approval at next year's annual general meeting, the source said. PPR is exiting its retail business to focus on its luxury and sports lifestyle brands.
"PPR's board is due to meet tomorrow on the plan to split from Fnac before it's presented to the brand's workers," the source told Reuters. "The exit plan is not completely decided, it could consist of a spin-off or stock market listing."
PPR declined to comment. Shares in the group were up 2 percent in early trading.
(Reporting by Pascale Denis; Writing by James Regan; Editing by Blaise Robinson)
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Keywords: PPR FNAC/