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France is not in favour of Couche-Tard's bid for retailer Carrefour - finance minister

FILE PHOTO: French Economy and Finance Minister Bruno Le Maire, wearing protective face masks, leave following the weekly cabinet meeting at the Elysee Palace in Paris, France, December 16, 2020. REUTERS/Gonzalo Fuentes

PARIS (Reuters) - French Finance Minister Bruno Le Maire said that he is not in favour of Canadian convenience-store operator Alimentation Couche-Tard’s takeover approach for French retailer Carrefour.

“At first glance, I am not in favour of this operation. French food sovereignty is a key issue,” Le Maire said in an interview on France 5 TV. He also said that jobs are another key consideration as Carrefour is a major employer and that he is not in favour of a takeover by a foreign company.

Carrefour has received a surprise 16.2 billion euros ($19.72 billion) takeover approach from Couche-Tard, sending its shares soaring on Wednesday.

Reporting by Geert De Clercq

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