Investors end confusion over Carrefour's takeover

Speculation over the possible takeover of French retailer Carrefour has been scotched.

French investor Bernard Arnault and American investment firm Colony Capital, who were associated with being behind an acquisition bid, have said that they would not acquire more than 20 per cent of the French retailer until June 30, 2008, unless Carrefour's largest shareholder, the Halley family, decided to sell its 13 per cent stake or a new shareholder bought more than 5 per cent of Carrefour.

Speculation that a takeover was imminent had swirled around the company since last month when Colony Capital and Arnault, together with a hedge fund, bought a 9.8-per cent stake. Stock The Parisian firm's stock slipped or 2 per cent, to €54.22 a share.