Some private equity funds are trying to convince Carrefour it should shelve plans to list its Dia discount unit due to volatile market conditions and instead sell it outright, sources close to the matter said. The proposal comes amid mounting opposition to the largest European retailer's plan to spin off 100 percent of Dia and part of its Carrefour Property unit.
"They have been approached by several funds and these are big ones," one source close to the matter told Reuters. The private equity funds' identity could not immediately be determined but one of the sources noted that they would need to be big enough to spend at least around 3 billion euros ($4.26 billion) for Dia.
Last month's decision by French media group Lagardere to postpone the initial public offering of its 20 percent stake in pay-TV group Canal Plus due to market volatility following the earthquake disaster in Japan, has stoked speculation other listing candidates could follow suit.
Carrefour shares were up 2.6 percent at 32.05 euros at 1135 GMT, accelerating their gains after the Reuters report, and were the top gainer in the French CAC 40 index. Carrefour, which announced the plans for a partial IPO of its real estate unit and a full flotation of Madrid-based Dia in a bid to revive its flagging share price and boost shareholders' returns, declined to comment.