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Carrefour — We have no Contact with Reliance

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As widely reported in the Indian media, Reliance Industries, owned by Mukesh Ambani, is closing in to acquire stakes in the French retail giant Carrefour. Sources in the know have said that both the companies are also considering a global alliance or may be a controlling stake in Carrefour by Reliance or even a joint venture.

Halley family, which owns 13 per cent stakes in Carrefour, is planning to off-load its stakes. It is believed that Reliance is thinking of picking only a few of Carrefour’s subsidiaries at the moment and not the 13 per cent of Halley family.

Interestingly, Carrefour in a statement has categorically denied any such talks with Reliance. The statement said, “Carrefour has no contact with this group (Reliance) and no negotiations are underway.”

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