MADRID, March 27 Spanish discount grocer DIA
has hired investment bank BNP Paribas to
explore a potential sale of its French business as the company
struggles to grow in the country, Bloomberg reported on
Thursday, citing people familiar with the matter.
DIA, spun off from French retail chain Carrefour,
has struggled to expand in France and is looking at options
including a divestment of 865 French stores as early as this
year, Bloomberg reported.
Shares in DIA traded 3.5 percent higher shortly before
market close in Madrid at 6.6 euros per share, leading the
gainers on the Spanish blue-chip index.
DIA declined to comment on Thursday. BNP Paribas in Madrid
was not immediately available to comment.
(Reporting By Sonya Dowsett; Editing by David Goodman)