McDonald to sell off stake in Chipotle Mexican Grill Inc.

McDonald’s Corp. has said that they would soon sell off their stake in the Chipotle Mexican Grill Inc. The company wants to get back its focus on its hamburger restaurants.

The world’s largest restaurant chain showed impressive gains recently on new menu items and World Cup promotions as the profits went up by around 57% in the most recent quarter.

McDonald’s Chief Executive Jim Skinner said in a statement: “Europe’s 6.3 percent comparable sales increase was the strongest quarterly result in more than 10 years. We are pleased with Europe’s improving profitability and remain intent on building upon these strong results.”

The decision to sell off its stake in Chipotle would help the company reduce the share count, as they would be using those funds to buy back its own stock.

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