Carrefour considers sale of stake in China business: sources

PARIS/FRANKFURT/BEIJING - Carrefour, Europe largest retailer, is exploring the sale of a minority stake in its loss-making business in China and has started sounding out potential buyers, people familiar with the matter said.

They also said the French company is waiting to see the outcome of an auction for German retail group Metro’s China operations to assess the level of interest. In January 2018, Carrefour announced a partnership with Tencent, which led to the opening of a high-tech store in Shanghai. Recently Carrefour reallocated space in its Chinese hypermarkets through a partnership with Chinese electronics retailer Gome for 11 shop-in-shops.FILE PHOTO: A Carrefour logo is seen on a Carrefour Hypermarket store in Toulouse, France, March 20, 2019. REUTERS/Regis Duvignau/File Photo

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