Carrefour denies report it will leave China

French retail giant Carrefour has denied media reports that it is selling its operations in emerging markets, including China. The world’s second-largest retailer said in a statement that its geographic priorities in the medium- and long-term are still growth markets, particularly China and Brazil.

The French company has suffered mounting losses since the outbreak of the global financial crisis. On Wednesday, the French daily Le Monde reported that Carrefour was considering selling its operations in Latin America and Asia under pressure from top shareholders. The report was then cited by major French media.

Carrefour responded that it has not changed its strategic plans since March, adding that its strategy has the full backing of its board of directors. The company’s shares rose slightly following the denial.

Editor: Xiong Qu | Source: CCTV.com 12-10-2009