France's competition authorities this week gave their approval to French retailer Casino's takeover of the Monoprix chain, under the condition that it sell off over 10 per cent of its Paris-based stores.
Casino has reportedly agreed to sell 55 stores in Paris out of a total of around 500 in the French capital, as well as three in other parts of the country.
The decision will see Casino acquire the remaining 50 per cent stake in Monoprix from joint venture partner Galeries Lafayette.
Meanwhile, the disposals account for less than 1 per cent of Casino's turnover in France, according to the retailer.
An investigation carried out last year by the competition authority found that Casino's share of Paris's food retail market stood at over 60 per cent in terms of sales surface, more than three times that of main rival Carrefour.
