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Tuesday, March 1, 2011

Carrefour board to review spin-off plans - sources, (CARR)

The board of French retailer Carrefour (CARR.PA) is meeting on Tuesday to review proposals to spin off 25 percent of Carrefour Property and 100 percent of its Dia hard discount unit to boost valuations, sources close to the situation told Reuters. Carrefour, undermined by two profit warnings last year, may subsequently list the property business in Paris and Dia on the Madrid stock exchange, one of the sources said. The listings will happen if Carrefour shareholders approve the spin-offs in June, the source said.

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