Carrefour denies Wal-Mart takeover talks

 

French group Carrefour has denied reports it has been holding talks with US supermarket giant Wal-Mart.

A Sunday newspaper report said Wal-Mart boss Lee Scott and Carrefour chairman Luc Vandevelde held talks in Versailles within the last month.

It suggested the talks may been a precursor to a Wal-Mart bid for the French firm.

The report, citing industry sources, said the discussions may have focused on a deal for Wal-Mart to buy a group of Carrefour stores. However, it said the talks could also have been held with a full takeover of Carrefour in mind.

Global market leader Wal-Mart and Britain's biggest supermarket chain Tesco have repeatedly been named as potential suitors for Carrefour, the world's second largest retailer.