Listen to this Article Now
The CEO of French supermarket firm Carrefour (PA: CARR), Alexandre Bompard, is looking into sector consolidation options, and talks have begun with the family behind the Auchan chain of stores, according to French Daily Le Monde on Thursday.
Carrefour and Auchan both declined to comment on rumours that the two companies were in negotiations about a prospective merger. The French finance minister declined to respond as well. Carrefour shares were down 0.63 percent at 0940 GMT.Carrefour stated in June that it has begun to investigate prospective consolidation, divestitures, or tie-ups of its international companies, but that no decision had been made to sell any assets.
Alimentation Couche-Tard of Canada abandoned its 16.2 billion euro ($19.57 billion) bid for Carrefour in January when the French government objected to the merger, citing food security concerns.