India: Joint operation rumoured between Carrefour and Bharti
According to the Economic Times in India, Bharti would keep a major share of the co-company (probably 74%). Negotiations have begun and they hope to finalise the operation by the end of the month or in May. The project marks Bharti's come-back in the sector.
The 5 Cash & Carry stores will be part of the new co-company. Bharti declined Japanese Aeon's application, favouring the French company. Recent negotiations sped up following the BJP party's statement that it will not privilege direct foreign investments in multi-brand retail such as large food retailers.