FRANCE: Carrefour - secures Argentinean connection - COMMENT
Carrefour has announced Q1 results and agreed to take full control of Norte. Carrefour has announced a Q1 sales increase of 9.6%. It has also agreed to acquire complete ownership of Norte, its majority-owned Argentinean supermarket chain, from the Exxel Group. Investors however have been disappointed by Carrefour's recent performance, fearing that the modest performance of its acquisitions will allow rival supermarket chains to catch up with Europe's largest grocer.
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