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Carrefour ends interest in tie-up with Auchan -Le Figaro

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PARIS, Oct 9 (Reuters) – Carrefour (CARR.PA) has determined to finish its interest in a attainable tie-up with Auchan after the 2 French retailers held exploratory talks in current months, day by day newspaper Le Figaro reported on Saturday.

The resolution was taken by Carrefour’s strategic committee on Thursday on the advice of Chief Executive Alexandre Bompard who thought-about a possible deal with Auchan as too advanced, Le Figaro stated.

Carrefour and Auchan couldn’t be instantly reached for remark.

Le Monde, one other French day by day, had reported on the finish of September that Bompard was inspecting choices for sector consolidation and his group had held talks with the Mulliez household that controls Auchan. learn extra

Carrefour stated in June it had began contemplating attainable consolidation, divestitures or tie-ups of its international subsidiaries, however had not decided to promote any property.

In January, Canada’s Alimentation Couche-Tard (ATDb.TO) dropped its 16.2 billion euro ($19.57 billion) bid for Carrefour after the French authorities opposed the deal, citing meals safety issues. learn extra

Reporting by Gus Trompiz and Laetitia Volga, Editing by William Maclean

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The logo of Auchan is seen on an Auchan supermarket in Noyelles-Godault, France, January 6, 2020. REUTERS/Pascal Rossignol/File Photo

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