SYDNEY, May 19 (Reuters) - Australian electrical goods retailer JB Hi-Fi Ltd JBH.AX said on Thursday it is in early talks about a possible buyout of privately-held 100-store rival The Good Guys for an undisclosed sum.
In a statement to the Australian Securities Exchange, JB Hi-Fi said the discussions were "preliminary and exploratory in nature" and that it had not decided whether to make a bid.
Australian media said The Good Guys, which is still controlled by the family which founded the business in 1952, was expected to fetch about A$1 billion ($722.8 million). JB Hi-Fi gave no valuation of the potential target.
($1 = 1.3835 Australian dollars)