French retailer Casino (CASP.PA) denied it had given Brazilian retailer Grupo Pao de Acucar (PCAR4.SA) the go-ahead to begin negotiations with Carrefour (CARR.PA) to merge their units in Latin America's biggest economy. A Casino spokesman denied an unsourced report on Tuesday in Valor Economico which said that Casino had allowed the Diniz family to negotiate the merger of their hypermarket and supermarket units. Pao de Acucar is controlled by Chairman Abilio Diniz and his family and Casino via an investment holding company called Wilkes. Wilkes owns about 66 percent of Grupo Pao de Acucar's voting shares. "Casino denies the information given in the Brazilian newspaper in which Casino is supposed to have given its agreement to open negotiations," a spokesman said. He also denied the group was aware of any negotiations going on. The report said Carrefour and Grupo Pao de Acucar (PCAR4.SA) had been talking for more than a month about merging their activities.
Source
