RUSSIA: Seventh Continent "more open to Carrefour approach"
Seventh Continent, the Russian retailer, could be more inclined to accept a fresh takeover bid from French group Carrefour, the world's second-largest retailer, sources have told just-food.
In May, negotiations between the companies fell through due to disagreements over price. However, Carrefour is now considering a repeat offer to buy the Russian hypermarket chain, Russian media reported.
According to analysts, Carrefour is now ready to make a much more generous offer than the US$1.25bn it previously put on the table.
Additionally, it is believed that continuing financial problems at Seventh Continent could make its owners more compliant to any profitable offer from Western investors.
"The current situation in the company is complicated indeed. It makes the company's management consider all the possible outcomes, including the Carrefour deal," a source in the company management who wished to remain unknown told just-food.
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