France moves to block Carrefour takeover by Canada's Couche-Tard
French economy and finance minister Bruno le Maire hinted on Wednesday that his government would block the proposed takeover by Canadian group Couche-Tard of France's supermarket chain Carrefour, the country's largest private sector employer, citing its required approval of such moves concerning strategic sectors.
FranceFrance’s government says it opposes the proposed 16.2 billion-euro ($19.6 billion) takeover of French supermarket chain Carrefour by Canadian convenience store group Couche-Tard, reports The Associated Press.
Labour minister Elisabeth Borne said Thursday on radio Europe 1 that she is “opposed to a takeover.” That follows similar comments by finance minister Bruno Le Maire who explained that the country’s “food sovereignty” is at stake.
“I’m not in favour of such a deal,” Le Maire said on television channel France 5 on Wednesday.
Carrefour is Europe’s biggest retailer and the biggest private employer in France, with over 105,000 employees in the country.
