date:Feb 12, 2014
Carrefour is in advanced talks with K. Raheja Group-promoted HyperCity Retail (India) Ltd chain of supermarkets for a possible alliance, people close to the development said, requesting anonymity.
The French retailer already operates five wholesale stores in India, a segment where the government allows 100% foreign direct investment (FDI). It is now seeking to establish a franchise agreement with the Mumbai-based group, the people said.
The move would make Carrefour the second foreign retailer