Carrefour considers China options including sale

Bloomberg

Carrefour SA is weighing options including a sale of its Chinese business, mirroring other international consumer firms that have decided to exit the country in recent years, people familiar with the matter said.
The French retail giant is working with an adviser and has begun reaching out to potential suitors, the people said, asking not to be identified because the deliberations are
private. Carrefour could seek about $1 billion for the Chinese business, though it may also opt to divest just a stake or decide against a sale, the people said. No final decisions have been made, they said.
A spokeswoman for Carrefour said a sale of the China unit is “not on the agenda.”
Carrefour joins other multinational consumer groups in rejigging its China business amid slowing growth. Consumers doing more of their shopping online has taken the shine off retail expansion in the world’s second-largest economy. With the potential sale, Carrefour joins German retailer Metro AG, which is offloading a majority stake in its Chinese business, people familiar with the matter said.