PARIS, Oct 9 (Businesshala) – Carrefour (CARR.PA) has decided to end its interest in a possible tie-up with Auchan, following exploratory talks between the two French retailers in recent months, the daily newspaper Le. Figaro reported on Saturday.
Le Figaro said Carrefour’s strategic committee made the decision on Thursday on the recommendation of chief executive Alexandre Bompard, who considered a potential deal with Auchan too complicated.
Carrefour and Auchan could not be immediately reached for comment.
Another French daily Le Monde reported in late September that Bompard was examining options for sector consolidation and that his group was in talks with the Mullies family that controls Auchan.
Carrefour said in June it had begun considering possible consolidation, divestment or mergers of its foreign subsidiaries, but had decided not to sell any assets.
In January, Canada’s Alimentation Couch-Tard (ATDb.TO) abandoned its 16.2 billion euro ($19.57 billion) bid for Carrefour after the French government opposed the deal, citing food security concerns.