Duran said: “Is Carrefour interested in Turkish development? Yes. Do we think that we have the operating capability to integrate such a big stake as Migros? Yes.”
Carrefour, which operates in Turkey, is one of the leading contenders to buy the 961-store chain after Turkish conglomerate Koc Holding put its 51 per cent stake in Migros up for sale.
Planet Retail global research director Bryan Roberts said: “Carrefour has a very powerful retail business in Turkey so it would make perfect sense for them to absorb as much of the local market as possible.”
As of July, the French group has operated 16 Carrefour Turkey stores in the country.
However, Roberts warned that it would not have a clear run to acquire Migros. Agrokor, one of Croatia’s leading grocers, submitted a non-binding bid on November 5 and has been shortlisted in a tender to buy the stake.
“It will not be uncontested,” said Roberts. Tesco also has about 50 stores in Turkey, but is not believed to be considering a bid.
Separately, Carrefour is expected to launch a wholly owned wholesale operation in India ahead of opening retail outlets, to speed up its entry into the market.
Duran told the Financial Times that Carrefour was building up the cash-and-carry side of the venture, with its first cash-and-carry stores set to open in 2009.
The retailer is considering opening three or four stores in Mumbai and Delhi. Duran said “if we are optimistic”, Carrefour should sign a joint venture with an Indian partner by the first quarter of next year in order to launch a retail operation in India, but declined to provide a time frame for opening stores.
Roberts said: “Wholesale would be a quicker way [for Carrefour] to get into the market. It would be a good way to get a foothold.”
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