French ministers oppose potential takeover of retailer Carrefour

CARREFOUR- Archivo

CARREFOUR- Archivo

"Now it remains to be seen if the government has leeway".

French President Emmanuel Macron's talent for top-down statist intervention has not been very visible when it comes to deploying Covid-19 vaccines, with the country's vaccination campaign being one of the slowest in the world. world.

"My answer is extremely clear: we are not in favour of the deal. The no is polite but it's a clear and final no", he said.

"Carrefour has been approached, in a friendly manner, by the Alimentation Couche-Tard group, with a combination project", Carrefour said in a statement. Couche-Tard shares slipped 2.2 per cent after the initial Bloomberg report, closing at $41.31 in Toronto to value the company at nearly $36 billion.

Couche-Tard's proposal values the French chain at about 20 euros per share.

Quebec Economy Minister Pierre Fitzgibbon told reporters that he would speak with France's finance minister, as the province goes on a charm offensive to promote the deal.

Historic Nasa SpaceX launch postponed due to bad weather
The space agency also has a number that features no-commentary, voice-only audio from the astronauts: 321-867-7135. The craft was built under NASA's Commercial Crew Program and was developed entirely by SpaceX.

According to Maire, the acquisition by a foreign company of Carrefour would be a major difficulty for France. "What is at stake here is the French people's food sovereignty", he said.

The French government recently added food retail to a list of sectors it considers strategic, giving it the right to review and block any deals. "So the idea that Carrefour can be bought by a foreign competitor, at first glance I am not in favour of such a deal".

Couche-Tard tried tried to buy Caltex Australia before deciding against a revised offer during the pandemic.

This raised questions over the potential for costs savings. Couche-Tard was prepared to offer guarantees on jobs and pledge between 2 and 3 billion euros of investment over five years, a source familiar with the matter said.

Shares in Carrefour were down 7.13 per cent at 0851 GMT, after a 17 per cent jump on Wednesday following the Couche-Tard approach.

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