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The Wall Street Journal reports that the battle over control of Carrefour, the second-largest retailer in the world, is heating up. “Carrefour hired Morgan Stanley as a defense adviser to help the Paris-based company deal with a new shareholder group that includes LVMH Moët Hennessy Louis Vuitton Chairman Bernard Arnault,” the WSJ writes. “The group is interested in splitting off much of the company's real estate, people familiar with the matter say.

“Meanwhile the Halley family, the company's largest shareholder -- controlling 13% of Carrefour's stock and 20% of the voting rights -- has called in Perella Weinberg Partners to help it negotiate with the shareholder group, according to people close to the matter.”

All the positioning comes about a week after Luc Vandevelde, the Carrefour chairman, quit after a dispute with the Halley family over a possible private equity play for the company.
KC's View:
The general sense seems to be that Carrefour is going to go through profound changes…no matter what they are. Which may create some interesting potential opportunities for companies like Metro, Tesco, and yes, Wal-Mart.