French retail giant Carrefour has put the sale of its Malaysian and Singapore outlets on hold after prospective buyers offered too little in the second round of bidding, reports Reuters.
Unofficial sources told the publication that Carrefour rejected offers made by November 5 and informed potential buyers, which included Japan's Aeon Co, UK-based Tesco and Singapore's Dairy Farm, that the sale process has been put on hold.
Carrefour declined to comment, according to Reuters, but one of the sources said the prospect that progress would be made on negotiations within this year has now disappeared.
Carrefour on Monday announced it would sell its 42 Thai stores to French retailer Casino.
