(Reuters) – Carrefour, Europe’s biggest retailer, plans to remain in Turkey but could change its partner there, Haberturk newspaper on Thursday reported Carrefour board member Thomas Huebner as saying.
The French group operates in Turkey through its venture Carrefoursa in which conglomerate Sabanci Holding has a 38.8 percent stake.
“We will continue in Turkey but we may change partner. We have been with Sabanci for 15 years. We are discussing the subject of continuing with another financial partner,” the Turkish paper quote Huebner as saying.
But Huebner, head of European operations at Carrefour, added there were currently no concrete talks on the subject.
Carrefour said last week it was pulling out of Greece in a sign companies are struggling to do business in a country where demand has plunged due to a debt crisis and whose future in the euro is in doubt.
That move comes as companies battle to cope with a slump in demand in Europe’s most indebted countries, which also include Ireland, Portugal, Spain and Italy.
However, unlike its Mediterranean neighbours, Turkey’s economy has continued to show strong growth despite a slowdown this year. (Writing by Daren Butler)
via Carrefour could change partner in Turkey – paper | Reuters.
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