Thursday, February 15, 2007

Carrefour close to JV deal with Wadia

London: Carrefour is poised to announce a joint venture with Wadia Group, one of India''s prominent industrial conglomerates, as the French retailer joins the race among foreign groups to gain a foothold in one of Asia''s biggest retail markets, the Financial Times reported, citing people close to the negotiations.
Carrefour is expected to announce a deal within weeks that will see it follow arch-rival Wal-Mart Stores Inc into the highly protected Indian market, the report said.
Wadia is a conglomerate that owns GoAir, the Indian budget airline, and Britannia Industries, the country''s largest food processing company.
15/02/07 Euro2day, Greece