Brazilian retailer Grupo Pao de Acucar (PCAR4.SA) denied it is in talks with rival Carrefour (CARR.PA) about merging their units in Latin America's biggest economy. Pao de Acucar, Brazil's biggest diversified retailer, said in a securities filing on Wednesday that "it is not currently a party in any negotiation with Carrefour and has not hired any financial adviser to do so." Speculation about a tie-up comes a year before Pao de Acucar's controlling shareholders, Casino (CASP.PA) and Brazil's Diniz family, have to discuss a Casino option to take full control of the company. The option becomes valid in June 2012. Casino is Carrefour's rival in France. In the filing, Pao de Acucar said Casino "has not authorized any third-party to represent its interests in any negotiations." Casino and the Diniz family control two-thirds of Pao de Acucar's common shares through an investment holding company called Wilkes.
Source
