According to reports, the company is understood to be considering buying the 13 per cent stake in Carrefour that is held by the Halley family. However, it is not known whether the Halley family have decided to sell their stake, which is the largest shareholding in the grocer.
Reliance sent a reconnaissance team to Europe and the US this month to explore retail acquisition opportunities. It has also been linked to Tesco and Wal-Mart, although both would appear to be too large for Reliance to buy outright.
Reliance is headed by the world's 14th richest man Mukesh Ambani. 'He has had quite a hefty fact-finding team in Europe for a few days, then in the states,' said a source close to Reliance, who added that he has appointed a very senior aide to assess strategic alliances and acquisitions. 'Ambani has very deep pockets,' the source said.
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