Luc Vandevelde, supervisory board chairman of French supermarket Carrefour is ‘determined’ not to let the company become a takeover target, according to the news agency AFX.
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“If our share price were to weaken significantly, the question could come up, and we would deserve it,” he told French paper Le journal du Dimanche. “But I am completely determined not to let the group become a target.”
Carrefour must grow its international activities to survive ‘because the French market is not going to grow much more,’ he said. “Today, France accounts for 50% of the group’s sales. If, in 10 years from now, it represents no more than 35%, we will have succeeded,” he said.
