International grocery chain Carrefour is not looking to sell its Brazil unit, Carrefour chief executive Lars Olofsson said. “Carrefour in Brazil is not for sale. I’m not talking with Walmart,” Olofsson said.

Last week, French newspaper La Tribune reported that Walmart had hired financial services company UBS to advise on a potential takeover of Carrefour’s Brazilian units.

However, Olofsson said he remained open to possible partnerships in the Brazilian market: “If someone wants to be my partner so Carrefour can be stronger, I’m ready to look at that proposal. I am open to anything that could strengthen Carrefour in Brazil.”