According to a report by Le Figaro daily newspaper over the weekend, Carrefour SA (CARR) has no longer interest in a possible partnership with Auchan after the two French companies held exploratory talks over the past months.
The decision was made by the company’s strategic committee last week on the recommendation of Chief Executive Officer Alexandre Bompard who considered a potential tie-up with Auchan as too complex.
Last month, Le Monde, another French media, had reported that Carrefour’s Chief Executive was exploring options for sector consolidation and that his group had conducted some negotiations with the Mulliez family controlling Auchan.
In June, the French retailer said that it had begun considering potential consolidation, divestitures or tie-ups of its foreign subsidiaries, but still, it had not decided to sell any assets.
As of 7:31 GMT on Tuesday the shares of Carrefour SA were edging up 0.22% (EUR 0.04) on the day to trade at EUR 15.60 on the Paris Stock Exchange.