Carrefour unlikely to acquire Sedmoi Kontinent

Carrefour unlikely to acquire Sedmoi Kontinent

French retailer is unlikely to acquire Russian retailer Sedmoi Kontinent, Russian newspaper Vedomosti reported. The newspaper sited Vladimir Gruzdev, who controls 10% of Sedmoi Kontinent as saying that Carrefour has almost zero chance of buying the Russian retail chain as it is not a good time for Russia to sell well-performing assets. Reports currently have the French retailer planning to take over 75% of Sedmoi Kontinent.