Kondo Effect in a Metal with Correlated Conduction Electrons

The large-degeneracy expansion for dilute magnetic alloys is extended to account for conduction electrons interactions. Particular attention is paid to the renormalization of the hybridization vertex which affects the low-energy excitations. As a first example, we calculate the enhanced characteristic energy $k_BT_0$ in the limit of weakly correlated conduction electrons. The metallic regime with strongly correlated electrons is discussed.