Blog: Rumours rumble on over Carrefour and CBD "talks" in Brazil
Dean Best | 24 May 2011
Another day and more rumours over the future of Carrefour's operations in Brazil.
Over the weekend, a report in France said Carrefour had asked advisers to look at a potential merger with CBD, Brazil's largest retailer.
With some retail analysts thinking a deal between the two was unlikely, there have been more further reports in France and Brazil that has kept the rumour mill turning.
In France, local retailer Casino, which owns a 35% stake in CBD, reportedly publicly warned Carrefour that would have a say in whether a deal with the Brazilian company would take place.
And, in Brazil, the Valor Economico newspaper claimed Carrefour and CBD, also known through its trading name of Grupo Pao de Acucar, had indeed been in talks - for over a month.
Without citing sources, Valor Economico claimed the two sides would look to merge their hypermarket and supermarket operations.
Carrefour and the Diniz family, the other main investor in CBD, could look to reach a share-swap deal to push the transaction through, the newspaper claimed.
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