Posted on 14 February 2011
Turkey a better bet – says Carrefour
Carrefour, the worlds second-largest retailer by sales, announced today that it had agreed to sell its 12 Portuguese hypermarkets to Portugals largest retailer for £460 million.
The disposal of the Portuguese stores and the potential expansion in Turkey is part of Carrefour’s strategy of selling what it perceives to be the weaker assets in its broad portfolio of international businesses in order to put resources into more promising territories.
(Source : FT London – 27 July 2007 )