PARIS (Reuters) - Carrefour’s talks with Chinese tech giant Tencent over a potential sale of a minority stake in its business in China are over, a spokeswoman for the French retailer said, after the company agreed a deal with rival Suning.com.
Carrefour, which signed a partnership with Tencent last year in an attempt to stem a decline in sales in China, said earlier it had agreed to sell 80% of its Chinese business to Suning.com.
It said its business partnership with Tencent is unaffected.
“The talks that have started since January 2018 for the sale of a minority stake (in Carrefour China) to Tencent are over,” a spokeswoman for Carrefour said. “However, the strategic business partnership with Tencent remains in place.”
Reporting by Dominique Vidalon; Writing by Mathieu Rosemain