Biz Scene: Grapevine

Carrefour in talks

Carrefour SA, Europe's biggest retailer, is in talks to buy outlets of Shanghai Bailian Group to fuel expansion in China and counter Wal-Mart Stores Inc, the South China Morning Post said, citing unidentified people.

Carrefour, which already has stores in Shanghai through a venture with Lianhua Supermarket Holdings Ltd, is holding the talks "as a defensive move", the paper said, citing a person familiar with the company.

Bailian, which has 7,000 outlets in China, has a 30 percent stake in Lianhua, the country's largest grocery store chain, the report said.

(China Daily 09/18/2007 page15)