Sources say that Walmart sees strategic sense in buying out Carrefour stores and may buy at least three of five Carrefour stores.
World's second largest retailer Carrefour is in talks with Walmart to sell its cash and carry stores in India, CNBC-TV18 learns from sources. This move comes after Carrefour's talks with Bharti had collapsed over terms of the deal.
Carrefour has five cash and carry stores in India, in Delhi, Bangalore, Jaipur, Meerut and Agra. Sources add that Walmart is bullish on India and sees strategic sense in buying out Carrefour stores and may buy at least three of five Carrefour stores.
Carrefour is keen on piecemeal approach for deal with Walmart and the latter would get access to ready to move in stores post the deal, sources say.
Also Read: Wal-Mart.com CEO Joel Anderson to step down
Walmart would take over lease deeds for Carrefour stores and is likely to absorb Carrefour in-store employees. Walmart is the world's largest retailer, it runs 20 cash and carry stores in India plans to open 50 new stores in the next four-five years.
Meanwhile, Walmart earlier declined to comment to this CNBC-TV18 query. But later, Rajneesh Kumar, Vice President Corporate Affairs, Walmart India said, "The information is baseless and untrue." Carrefour is yet to respond to it.
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