| Apparently,
Carrefour, like Wal-Mart, is looking for a strong partner
with considerable political clout. But unlike Wal-Mart,
it does not want to experiment too much with its entry
model.
A DLF insider confirmed that there have been meetings
between representatives of the two groups. "The
possibility of a deal cannot be ruled out. However,
it's too early to comment on anything. The company will
not go for any arrangement if it does not see substantial
benefits," he reportedly said.
the French retailer seems to be also in touch with
the Reliance-Anil Ambani Group (ADAG) and the Essar
group. Carrefour, said sources, is not looking for retail
expertise in its partner. Since some sections of the
government are averse to foreign companies entering
the retail sector, it is looking for a partner that
is politically well-networked and has access to prime
real estate. Early this year, the company had also held
talks with HDFC, keeping the same criteria in mind.
Carrefour likes a conservative approach and a slow
rollout, which is not agreeable to most Indian partners.
Moreover, said a source, it is extremely rigid on terms
and conditions of agreements.
Apparently, this was the reason why its talks initially
broke off with Bharti Enterprises, which later tied
up with Wal-Mart. It is learnt that Wal-Mart yielded
to their conditions on many issues while signing the
deal, something that Carrefour did not seem to be willing
to do.
Full report at: http://economictimes.indiatimes.com
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