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Last year Sabanci took over control of its retailing joint venture (with Carrefour of France), which has been losing money.
"P.& G. stubbed its toe pretty badly with Carrefour, the leading international retailer," said Mr. Flickinger, managing director of Reach Marketing in Westport, Conn.
Meanwhile, Metro may try to merge with Carrefour or Britain's Kingfisher.Wal-Mart therefore has a limited chance to acquire the European scale it needs.
Mr. Diniz was in Paris on Tuesday for a meeting of the Casino board at which the proposed alliance with Carrefour was roundly criticized.
Wal-Mart Stores plans to open as many as 15 new stores in China next year, competing for a foothold with Carrefour and Metro Group as the government lifts curbs on foreign retailers.
As founders of Promodès, another French hypermarket chain that merged with Carrefour, they are not so attached to the retailer, and have already reduced their stake from 25% to 13% of shares.Will anyone bid for the struggling firm?
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Today, Leclerc is France's leading hypermarket, with a market share of 17%, followed by Carrefour with 14%.
In the quarter, Oracle announced a series of so-called Exchanges, Internet-based purchasing systems for major industries including automobiles, with Ford, DaimlerChrysler and General Motors, and retail, with Sears and Carrefour of France.
By contrast, with the Carrefour-Promodès union, commentators can applaud not just the rebuttal of acquisitive foreigners but also the creation of a French giant to bestride the global stage.Yet the applause is qualified.
Market interest so far is focusing on the units that are seen as the jewels in Ahold's Latin crown -- the Bom Preço and G. Barbosa chains in Brazil, with combined sales last year of $1.4 billion, and Disco, No. 2 in Argentina behind Carrefour, with sales of $820 million.
More than five months ago, Mr. Arnault, the richest man in France and chairman of the fashion house Christian Dior, teamed up with Colony Capital, an American real estate investment firm, to acquire almost 10percentt of Carrefour, with an eye toward its real estate, valued at 24 billion euros (nearly $33 billion).
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