French Retailer Carrefour Ends Bid For Tie-Up With Rival Auchan

Carrefour has decided to end its interest in a possible tie-up with Auchan after the two French retailers held exploratory talks in recent months, daily newspaper Le Figaro reported, Gus Trompiz and Laetitia Volga wrote for Reuters.

Photo Insert: Carrefour personnel at work

The decision was taken by Carrefour's strategic committee on Thursday on the recommendation of Chief Executive Alexandre Bompard who considered a potential deal with Auchan as too complex, Le Figaro said.

Le Monde, another French daily, had reported at the end of September that Bompard was examining options for sector consolidation and his group had held talks with the Mulliez family that controls Auchan.

Carrefour said in June it had started considering possible consolidation, divestitures, or tie-ups of its foreign subsidiaries, but had not made a decision to sell any assets.

In January, Canada's Alimentation Couche-Tard dropped its 16.2 billion euro ($19.57 billion) bid for Carrefour after the French government opposed the deal, citing food security concerns.

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