Carrefour open to possible takeover bids

Carrefour CEO Lars Olofsson said the company is ready to look for possible takeover bids in countries where it is not the front runner, according to an interview published in French magazine Capital. "There are markets where I am not a leader, not certain to become a leader one day: if I ever get a bid, I am ready to consider it," he said, without naming any country. "Carrefour is profitable in all countries where it operates. So I have no pressure," he added. "Ideally, is to be a leader in each market to have the best costs and marketing synergies, the best buying power. For example, we exited Russia where we had years of losses before us," he said, adding "If Carrefour was previously a "conquering entrepreneur", now "the priority" is to win the hearts of customers. “The plan now is not to open new markets," he said.

At the beginning of the month, French daily newspaper Le Figaro reported, without disclosing its sources that Carrefour plans to withdraw from Portugal by selling its 524 Minipreço discount stores. Carrefour declined to comment. In Belgium, the retailer has announced that it will close 21 stores in the country and cut 1,672 jobs. The preservation of another 3,000 jobs is conditioned to a restructuring including a freeze on wages.

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