PARIS (Reuters) – Auchan does not plan to make a hostile move for Carrefour after the latter broke off talks over a tie-up between the two French retail groups, business daily Les Echos said on Sunday. Le Figaro, another French daily, had reported on Saturday that Carrefour decided to end discussions with Auchan after judging a potential deal as too complex. Auchan’s reported proposal is higher than a 20 euro per share bid for Carrefour made by Alimentation Couche-Tard in January. The Canadian retailer dropped its offer worth about 16 billion euros in the face of opposition from the French government. Auchan declined to comment, while Carrefour could not be immediately reached.

Source: MetroXpress October 10, 2021 21:00 UTC