Carrefour may sell off its property assets

Carrefour's ceo Jose Luis Duran has hinted the company may not be averse to selling off some of its real estate portfolio, valued at EUR 20 bn. Duran told a conference call on the French retailer's 2006 results that there were no plans for a property sell-off. But when questioned on this, he pointedly didn't rule out a sale of some of its properties in the future. His comments came a day after a French billionaire, Bernard Arnault, and a US private equity fund, Colony Capital, announced they had acquired a 9.1% stake in the world's second-biggest retailer by sales.

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