The world's second biggest retailer explored sale of its businesses in Taiwan and China. This included a possible initial public offering in Hong Kong. Another plan was to combine its assets with another company as reported by The Wall Street Journal on Monday citing sources who were familiar with the plan.
The IPO route could represent around US$1 billion in funds reported by the Journal. It cited a source saying Carrefour's plans were still at an initial stage. Carrefour has not yet hired any underwriters for the said initial public offering. The company declined to give any statement regarding the report.
Carrefour is Europe's largest retailer. The French group has been struggling for years in the region as customers preferred to buy online and locally than in general merchandise from specialists. Carrefour exited non-strategic markets to raise cash. It also aimed to cut its debt however investors are concerned that the company is retreating from numerous high-growth markets.
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