PARIS — Carrefour SA is appealing an antitrust ruling ordering the French firm to sell its 75 percent stake in an Indonesian retailer.
This story first appeared in the November 5, 2009 issue of WWD. Subscribe Today.
Indonesia’s antitrust authority ordered Carrefour to sell its stake in Alfa Retailindo after it ruled the chain dominates more than 50 percent of the market.
Carrefour said Wednesday it rejected the ruling, adding it will consider “all available legal options to contest this decision.”
The company, the world’s second-largest retailer after Wal-Mart Stores Inc., cited independent studies pegging Carrefour Indonesia’s share of the retail market at less than 20 percent.
It also noted that its 2008 purchase of Alfa Retailindo, which represents 13 percent of Carrefour sales in Indonesia, was made in accordance with the prevailing laws and with the authorization of the antitrust authority.
Analysts said an eventual sale of the stake in Alfa, if the appeal is unsuccessful, shouldn’t prove a major setback for the French retailer, since its Indonesian operations are relatively small.
Last month, Carrefour said it was exiting the Russian market to focus on countries where it’s among the market leaders.