Blue Capital, a company jointly owned by Colony Capital and Groupe Arnault, is reportedly further increasing its stake in Carrefour.

After raising its stake to 12.9% from 10.7% on Friday, Blue Capital has now raised its stake to 13.55%. This will now give it 12.66% of the voting rights in the French retail giant.

Reports last week suggested that Blue Capital has been increasing its pressure over Carrefour's management, calling its growth strategy into question and pushing for the departure of Carrefour's CEO Jose-Luis Duran.