{"id":104494,"date":"2021-01-14T13:22:47","date_gmt":"2021-01-14T13:22:47","guid":{"rendered":"https:\/\/fin2me.com\/?p=104494"},"modified":"2021-01-14T13:22:47","modified_gmt":"2021-01-14T13:22:47","slug":"french-finance-minister-stresses-food-security-in-opposing-carrefour-takeover","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/french-finance-minister-stresses-food-security-in-opposing-carrefour-takeover\/","title":{"rendered":"French Finance Minister stresses food security in opposing Carrefour takeover"},"content":{"rendered":"

PARIS (Reuters) – France\u2019s Finance Minister on Thursday said any takeover of French retailer Carrefour by a foreign company would be a \u201cmajor difficulty\u201d, as the government wants to preserve the country\u2019s food security and sovereignty.<\/p>

Slideshow ( 2 images )<\/span><\/figcaption>

Canadian convenience-store operator Alimentation Couche-Tard\u2019s near $20 billion takeover approach for Carrefour – continental Europe\u2019s largest retailer – has also raised French government concerns about job security at one of the country\u2019s largest employers.<\/p>\n

\u201cHaving Carrefour being bought by a foreign company would be a major difficulty for all of us\u201d, Bruno Le Maire said in an interview at the Reuters Next conference.<\/p>\n

\u201cFood security is at the core of the strategic challenges of all developed nations\u201d, he said.<\/p>\n

Labour Minister Elisabeth Borne underlined the political opposition to a takeover of Carrefour by Alimentation Couche-Tard, calling for no change in the company\u2019s current shareholding structure.<\/p>\n

\u201cI am in favour of not questioning Carrefour\u2019s current shareholding structure and allowing (the company) to pursue its strategy, so (I am) opposed to a takeover,\u201d Borne told Europe 1 radio.<\/p>\n

Shares in Carrefour pulled back following the government\u2019s opposition, after a 17% jump on Wednesday.<\/p>\n

Shares were down 5.33% at 1121 GMT.<\/p>\n

Morningstar analyst Ioannis Pontikis said the market was probably pricing in the low likelihood of the deal going through due to the political hurdles.<\/p>\n

A source close to Carrefour said the company was surprised by Le Maire\u2019s comments, which the source said were premature.<\/p>\n

\u201cWe are surprised by this reaction as we are at a very preliminary stage\u201d, the source told Reuters.<\/p>\n

A source with knowledge of the matter also told Reuters it was too early to say the deal would not go through.<\/p>\n

Paris spoke up in 2005 to protect French big business amid rumors that Danone might receive a takeover bid from PepsiCo Inc. The country has since tightened takeover rules to protect French companies deemed strategic, including under the presidency of Emmanuel Macron.<\/p>\n

Couche-Tard on Wednesday made a non-binding 20 euros per share offer for the French grocery group, largely in cash. The Quebec-based company has given no further detail on its plans for the combined companies.<\/p>\n

A source familiar with the discussions told Reuters that 20 euros per share was not enough but was a starting point for discussions. Initial contact between the two companies came at the end of last year and Couche-Tard sent its first letter in early January, the source said.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

PARIS (Reuters) – France\u2019s Finance Minister on Thursday said any takeover of French retailer Carrefour by a foreign company would be a \u201cmajor difficulty\u201d, as […]<\/p>\n","protected":false},"author":3,"featured_media":104493,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nFrench Finance Minister stresses food security in opposing Carrefour takeover - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/french-finance-minister-stresses-food-security-in-opposing-carrefour-takeover\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"French Finance Minister stresses food security in opposing Carrefour takeover - Fin2me\" \/>\n<meta property=\"og:description\" content=\"PARIS (Reuters) – France\u2019s Finance Minister on Thursday said any takeover of French retailer Carrefour by a foreign company would be a \u201cmajor difficulty\u201d, as [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/french-finance-minister-stresses-food-security-in-opposing-carrefour-takeover\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-14T13:22:47+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/01\/cnewsfotor31-3.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/french-finance-minister-stresses-food-security-in-opposing-carrefour-takeover\/\",\"url\":\"https:\/\/fin2me.com\/markets\/french-finance-minister-stresses-food-security-in-opposing-carrefour-takeover\/\",\"name\":\"French Finance Minister stresses food security in opposing Carrefour takeover - Fin2me\",\"isPartOf\":{\"@id\":\"https:\/\/fin2me.com\/#website\"},\"datePublished\":\"2021-01-14T13:22:47+00:00\",\"dateModified\":\"2021-01-14T13:22:47+00:00\",\"author\":{\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/fin2me.com\/markets\/french-finance-minister-stresses-food-security-in-opposing-carrefour-takeover\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fin2me.com\/markets\/french-finance-minister-stresses-food-security-in-opposing-carrefour-takeover\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fin2me.com\/markets\/french-finance-minister-stresses-food-security-in-opposing-carrefour-takeover\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fin2me.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Markets\",\"item\":\"https:\/\/fin2me.com\/category\/markets\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"French Finance Minister stresses food security in opposing Carrefour takeover\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fin2me.com\/#website\",\"url\":\"https:\/\/fin2me.com\/\",\"name\":\"Fin2me\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fin2me.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"Mark\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"caption\":\"Mark\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"French Finance Minister stresses food security in opposing Carrefour takeover - Fin2me","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fin2me.com\/markets\/french-finance-minister-stresses-food-security-in-opposing-carrefour-takeover\/","og_locale":"en_US","og_type":"article","og_title":"French Finance Minister stresses food security in opposing Carrefour takeover - Fin2me","og_description":"PARIS (Reuters) – France\u2019s Finance Minister on Thursday said any takeover of French retailer Carrefour by a foreign company would be a \u201cmajor difficulty\u201d, as [...]","og_url":"https:\/\/fin2me.com\/markets\/french-finance-minister-stresses-food-security-in-opposing-carrefour-takeover\/","og_site_name":"Fin2me","article_published_time":"2021-01-14T13:22:47+00:00","author":"Mark","twitter_card":"summary_large_image","twitter_image":"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/01\/cnewsfotor31-3.jpg","twitter_misc":{"Written by":"Mark","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/fin2me.com\/markets\/french-finance-minister-stresses-food-security-in-opposing-carrefour-takeover\/","url":"https:\/\/fin2me.com\/markets\/french-finance-minister-stresses-food-security-in-opposing-carrefour-takeover\/","name":"French Finance Minister stresses food security in opposing Carrefour takeover - Fin2me","isPartOf":{"@id":"https:\/\/fin2me.com\/#website"},"datePublished":"2021-01-14T13:22:47+00:00","dateModified":"2021-01-14T13:22:47+00:00","author":{"@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/fin2me.com\/markets\/french-finance-minister-stresses-food-security-in-opposing-carrefour-takeover\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fin2me.com\/markets\/french-finance-minister-stresses-food-security-in-opposing-carrefour-takeover\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/fin2me.com\/markets\/french-finance-minister-stresses-food-security-in-opposing-carrefour-takeover\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fin2me.com\/"},{"@type":"ListItem","position":2,"name":"Markets","item":"https:\/\/fin2me.com\/category\/markets\/"},{"@type":"ListItem","position":3,"name":"French Finance Minister stresses food security in opposing Carrefour takeover"}]},{"@type":"WebSite","@id":"https:\/\/fin2me.com\/#website","url":"https:\/\/fin2me.com\/","name":"Fin2me","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fin2me.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"Mark","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fin2me.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","caption":"Mark"}}]}},"_links":{"self":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/104494"}],"collection":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/comments?post=104494"}],"version-history":[{"count":0,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/104494\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media\/104493"}],"wp:attachment":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media?parent=104494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/categories?post=104494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/tags?post=104494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}