Carrefour eyes plan for Brazil, China growth - FT
PARIS, April 2
PARIS, April 2 (Reuters) - Carrefour expects to have a plan in place by 2014 to expand in Brazil and China, its second- and fifth-biggest markets by sales, the Financial Times quoted the French retailer's chief executive as saying.
The company's rate of growth in those markets is "probably insufficient", the newspaper quoted CEO Georges Plassat as saying in its Tuesday edition.
"We are working on a strategy," Plassat was quoted as saying. "These are big countries, and there are lots of possibilities but I hope the plan will be ready by the beginning of next year."
Carrefour has raised around $3.6 billion by selling units in Indonesia, Colombia and Malaysia as part of its strategy of raising cash to defend positions in western Europe, China and Brazil.
In Turkey, meanwhile, Carrefour is talking to joint venture partner Sabanci about options for its business there that could include combining with Migros, a retailer controlled by private equity group BC Partners, the newspaper said.
Plassat said it was probable the situation would be clarified in several weeks, according to the paper.
Carrefour had said it was reviewing the future of the joint venture after Sabanci said a year ago it was unhappy with Carrefour's performance.
- NOAA employee charged with stealing U.S. dam information
- Special Report: Traffickers use abductions, prison ships to feed Asian slave trade
- Autopsy of slain Missouri teen shows close-range gunshot: report
- Hong Kong protesters march after fruitless talks with government
- Sweden gets two new sightings, as hunt for undersea intruder goes on