Shares in Carrefour were up slightly today (22 June) after it emerged that Israeli holding company Koor Industries has approved an investment of up to ILS3.5bn (US$886m) in the French retail giant.

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Koor currently holds 0.25%, or 1.76m shares, in Carrefour.


In a statement released this morning, Koor said that its purchase of further shares would be dependent on a number of factors, including the company’s “estimate as to market developments”.


“[Koor] will carry out the investment by taking advantage of opportunities to buy and sell in accordance with market conditions.”


Koor added that there is “no certainty” as to the size of the investment.

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Carrefour shares gained 1.22% to EUR29.80 at 2pm (BST).

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