Business

French 'no' to Canada's Couche-Tard regarding Carrefour is 'final': minister

Finance Minister Bruno Le Maire strongly reaffirmed France's opposition to French retailer Carrefour possibly being taken over by Canada's Alimentation Couche-Tard on Friday, sending Carrefour's shares down 4.5per cent.

FILE PHOTO: French Prime Minister Jean Castex holds a press conference in Paris
FILE PHOTO: French Economy and Finance Minister Bruno Le Maire speaks during a press conference in Paris, France January 14, 2021, on French government's current strategy for the ongoing coronavirus disease (COVID-19) pandemic. Thomas Coex/Pool via REUTERS

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PARIS: Finance Minister Bruno Le Maire strongly reaffirmed France's opposition to French retailer Carrefour possibly being taken over by Canada's Alimentation Couche-Tard on Friday, sending Carrefour's shares down 4.5per cent.

"What's at stake is the food security of our country (...) food security is strategic for our country so that's why we don't sell a big French retailer," Le Maire told BFM TV.

"My answer is extremely clear: we are not in favour of the deal. The no is polite but it's a clear and final no," he said.

(Reporting by Benoit Van Overstraeten; editing by Jason Neely)

Source: Reuters