The French supermarket group Carrefour has been investigating a bid for industry colleague Casino Guichard-Perrachon for several weeks. The French business channel BFM Business reports this based on insiders.

Since the beginning of the summer, Carrefour reportedly weighs and takes over to take over the entire Casino group through a share exchange with a value of more than 4 billion euros. Plans are also being studied to then resell activities and stores to get regulatory approval. Last weekend top executives of Carrefour would have talked to bankers and lawyers to discuss the situation. A hostile bid for Casino would not be the plan, according to BFM.

A Carrefour spokeswoman said there was no bid for Casino on the table. And no draft or plans for a bid, she added.

A deal would yield the largest grocery chain in France and a new market leader in Brazil. Casino, known for its acclaimed chain Monoprix, has been in heavy weather for some time. Parent company Rallye, with which businessman Jean-Charles Naouri controls the company, has billions of debts and has been in a form of suspension of payments for some time.

Carrefour has a market value of almost 14 billion euros and Casino is worth 4.8 billion euros. For comparison: the Dutch-Belgian supermarket group Ahold Delhaize currently has a market value of 26.3 billion euros.

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