PARIS, April 2 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
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