Report: Wal-Mart eyeing Carrefour's Brazil unit

AP News
Posted: Aug 11, 2011 8:36 PM
Report: Wal-Mart eyeing Carrefour's Brazil unit

Wal-Mart Stores Inc. is reportedly exploring the possibility of buying the Brazilian unit of French retailer Carrefour SA.

The Wall Street Journal, citing people familiar with the matter, says however that Wal-Mart is not in talks now with Carrefour and has not contacted the French company about its interest in the company's Brazilian unit.

The newspaper says Wal-Mart's interest comes two years after the two companies tried to reach a deal on the Brazilian stores but ended talks when they could not agree on a price. It says UBS AG is now advising Wal-Mart on the possibility of making an offer for Carrefour's Brazilian stores.

Wal-Mart and UBS declined to comment. A Carrefour spokeswoman told the Journal that the company is committed to remaining in Brazil.