Carrefour Sticking With Organic Expansion

Wuhan, China, French retailer Carrefour’s chief executive said the chain has no interest in making a major acquisition in China in response to Wal-Mart’s reported expansion plans in that country, according to a Reuters report.

“We are more interested in organic growth and we will not deviate from that,” said CEO Jose Luis Duran. His comments came while speaking to a small group of reporters during a business visit to China.

Various sources have reported Wal-Mart is planning to buy Taiwan’s Trust-Mart, which would more than double its retail presence in China.