Wednesday, December 20, 2006

Carrefour in talks with Wadias

The Financial Express reports that French retailer Carrefour, the second largest retailer in the world, is in talks with the Wadias of Bombay Dyeing Group for a retail venture in India. Carrefour was earlier in talks with Dubai based Landmark group and has been studying the Indian retail market for the past 4 months. Reportedly talks with Landmark fell through since Carrefour wanted to tie up with an Indian company. If the deal goes through, Ness Wadia will likely be heading the new venture. The Wadias have diversified interests in textiles, airlines, FMCG and had earlier announced its interest in the retail industry.

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