Walmart has dismissed speculation that it is in negotiations with Carrefour over the French retailer's Brazilian unit.
A source at the US group familiar with the situation told Reuters that rumours of talks, surfacing in the publication Valor Economico, were 'baseless'.
There has been much speculation surrounding the future of Carrefour in Brazil following its failure to merge its Brazilian assets with local retailer Cia Brasileira de Distribuicao Grupo Pao de Acucar.
The move was scuppered by Brazil’s national development bank, BNDES, which refused to offer funding.
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