Carrefour Now Forced To Scotch Thai Departure Rumours

French retail giant Carrefour has moved to refute rumours of its impending departure from Thailand by confirming a THB4bn (US$126.3mn) three-year investment package for the country. The retailer, famed for its ruthless approach to pursuing market leadership and its willingness to cut its losses in markets in which a top three position is not within reach, was thought to be considering selling its Thai assets to Casino-owned Big C. However, as Carrefour was forced to do in Malaysia just months ago, the French firm has scotched these rumours with an ambitious new assault on market share

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