A potential bid for global retailer Carrefour, France's biggest private employer, by a Canadian convenience store group seemed to be going nowhere on Thursday after the French government poured cold water on the idea.
Earlier on Thursday, Labour Minister Elisabeth Borne said Carrefour's current ownership"should not be put into question" and that the company's strategy"should be protected." Couche-Tard has a worldwide network of more than 14,200 stores, and earned a net profit of US$2.4 billion on sales of US$54 billion in its non-calendar 2019 fiscal year.
"There are fewer and fewer attractive acquisition targets" in the retail sector, he said, at least ones that are"profitable and that can be merged."
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.