France opposes $20-billion takeover of supermarket chain Carrefour

France’s government says it opposes the proposed 16.2 billion-euro ($19.6 billion) takeover of French supermarket chain Carrefour by Canadian convenience store group Couche-Tard.

 

Labor Minister Elisabeth Borne said Thursday on radio Europe 1 that she is “opposed to a takeover.” That follows similar comments by Finance Minister Bruno Le Maire who explained that the country's “food sovereignty” is at stake.

 

“I’m not in favour of such a deal,” Le Maire said on television channel France 5 on Wednesday.

 

Carrefour is Europe’s biggest retailer and the biggest private employer in France, with over 105,000 employees in the country.