Seven & i shares jump 3% on Zabka convenience store stake talks

TOKYO, July 17 : Shares in Seven & i rose 3 per cent in Tokyo on Friday as the Japanese retailer said it was in talks to buy a stake in Polish convenience store operator Zabka Group.The 7-Eleven owner is considering acquiring Zabka shares held ​by funds, with the investment likely ​to total several hundred billion yen (several billion dollars), Nikkei reported. A deal would extend Seven & i's reach into Eastern Europe, beyond its strongholds in Japan and North America, as the retailer seeks to grow its business under CEO Stephen Dacus, who took the helm last year. "Amid overall market weakness due to falling semiconductor stocks, defensive sectors centered on domestic demand are being bought," said Naoshi Matsumoto, an analyst at Yamawa Securities. Aeon, Japan's largest retailer, also clim