EU clears Carrefour-Promodes deal

Article Abstract:

Carrefour SA's purchase of Promodes SA has been approved by the European Commission (EC). However, the EC ordered authorities in France and Spain to begin an investigation of the local implications of the acquisition.

European Union, Public affairs, Planning, European Union. European Commission

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Bigger Carrefour looks ready to battle Wal-Mart

Article Abstract:

Carrefour SA's merger with Promodes SA will enhance the company in its competition with Wal-Mart Stores Inc. to become the retailer with the greatest international presence. The merged entity will have sales of 54 billion euros a year. However, this would still be less than half of Wal-Mart's sales. Analysts say that the merged firm will be a powerful force in Wal-Mart's growth target markets.

Comment:

Carrefour's merger with Promodes to enhance company's competition with Wal-Mart Stores

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Carrefour-Promodes deal worries unions, regulators

Article Abstract:

Spanish unions and consumer groups, as well as European Union regulators, are concerned about the Euro15.6-billion merger between Carrefour SA and Promodes SA. The combined group might hold too dominant a position in Spain's food retail market. The merged group will retian only the Carrefour name, and have a 25% share of the Spanish grocery market.

Market share, Spain, Variety stores

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