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[Sexpat]

"Executives of the French hypermart operator Carrefour denied a report that it was considering selling off its business in Thailand to its rival Big C.

The Thai language daily Thai Rath yesterday reported speculation that Carrefour could sell its operations to Big C, whose major shareholders include the Casino Group, a major French retailer.

Philippe Broianigo, managing director of CenCar Co, the local operator of Carrefour, noted that Carrefour's French headquarters last week approved a four-billion-baht investment plan that would result in up to 28 new branches opened through 2010. The company plans to spend one billion baht this year to open six to eight new outlets. Another 1.7 billion baht in investment was planned for 2009 and 1.3 billion in 2010 to add 20 stores.

Each new store would also generate 200 to 300 new positions, depending on store space. The investment plan would be financed from cash flow and support from its overseas parent. Carrefour, which entered Thailand 11 years ago, currently operates 27 outlets nationwide. The new expansion plan would double its branch network to 54 in just three years."

http://www.bangkokpost.com/Business/26Apr2008_biz26.php