Tesco and Carrefour in bidding war for Czech chain

City A.M. Reporter
Europe's largest retailer Carrefour and its largest British peer Tesco are among four bidders for the Zabka retail chain, according to Reuters sources.

Zabka owner, Czech-based Penta Investments, might sign the deal, valued at no less than 300m euros (£255m), in 2010, the sources said.

"There are four bidders left, two strategic (investors) and two financial (investors)," a source close to the transaction said, commenting on the sale of Zabka, which operates more than 2,300 stores in Poland and the Czech Republic.

"The two strategic investors are Tesco and Carrefour," a market source added.

However, Josef Janov, managing partner for Poland at Penta Investments, reiterated the final decision on the sale would be made in January. He declined to comment on the possible involvement of Carrefour and Tesco in the deal.

The Polish subsidiaries of Tesco and Carrefour were not immediately available for comment.