According to reports, the world’s second largest retailer, Carrefour SA, expects to receive preliminary bids for its South Korean unit by 4 April. However, the French retail giant is keeping a tight lid on its plans.

When approached by just-food Carrefour refused to comment on such speculation or even confirm that the business is up for grabs, although a company spokesperson did say that the official position will be revealed in due course.

“Carrefour is going to get letters of intent with offer prices from potential buyers by next week and will likely name preferred bidders by around April 10,” an industry source, who declined to be named, told Dow Jones Newswires.

Local media reports have suggested that the deal could fetch as much as KRW1.8trillion (US$1.84bn).