Carrefour Finally Finds Buyer For Hypermarket Network

June 2007 | Company News Alert

French retailer Carrefour has finally found a buyer for its Slovak hypermarket network, long after announcing its intended departure from the country. In late 2005 Carrefour reached a swap deal with UK rival Tesco in which Carrefour was to take over Tesco's outlets in Taiwan in exchange for Carrefour's Czech and Slovak store networks. However, in 2006 the Slovak Antimonopoly Office (PMU) blocked Tesco from acquiring the four hypermarkets over concerns that this would give Tesco an overly powerful position in the country's mass grocery retail (MGR) sector. Carrefour has now signed an agreement with Slovak companies ICS and ECM

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