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French 'No' To Canada's Couche-Tard Regarding Carrefour Is 'Final': Minister

Published on Jan 15 2021 10:29 AM in Retail tagged: Carrefour / France / Canada / Alimentation Couche-Tard

French 'No' To Canada's Couche-Tard Regarding Carrefour Is 'Final': Minister

Finance minister Bruno Le Maire strongly reaffirmed France's opposition to French retailer Carrefour possibly being taken over by Canada's Alimentation Couche-Tard on Friday, sending Carrefour's shares down 4.5%.

"What's at stake is the food security of our country (...) food security is strategic for our country so that's why we don't sell a big French retailer," Le Maire told BFM TV.

"My answer is extremely clear: we are not in favour of the deal. The no is polite but it's a clear and final no," he said.

Earlier this week, Canadian convenience-store operator Alimentation Couche-Tard Inc initiated exploratory discussions with Europe's biggest retailer, Carrefour SA, regarding a potential transaction.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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