UK/FRANCE: Safeway takeover talk sees shares lift
The UK's fourth-largest grocery chain Safeway saw its shares rise yesterday [Tuesday] after market speculation that it was a takeover target for French retailing behemoth Carrefour. According to the Guardian newspaper, Carrefour is on the lookout for more acquisitions following the successful integration of French competitor Promodès and a reduction in its debt, and the UK chain would make a suitable target. The French group already operates in 25 countries.
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