Belgium-based retail group Delhaize is targeting Eastern Europe for future expansion, according to group chief executive officer Pierre-Olivier Beckers.

Talking to Dutch newspaper Het Financieele Dagblad, Mr Beckers said that the fall in price of the group's rivals has opened up the possibility of buying opportunities.

'We are in no rush and we will certainly not pay any price, but there are now more chances to acquire medium-sized players. Prices are more realistic than in 2002,' he said. 'There are still some companies with weak balances and private equity is standing aside.'

Analysts see Delhaize as a good merger candidate with the Netherlands-based retailer Ahold, Reuters said.

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