Carrefour, the French multinational retail corporation, has decided to pause the sale of its Argentine subsidiary following several months of negotiations. The CEO, Alexandre Bompard, stated during a global results presentation that the offers received did not meet the company's expectations. Despite this setback, he emphasized that negotiations are still ongoing with two remaining candidates: Grupo GDN, led by Francisco de Narváez, and Peru's Intercorp, which may enhance their bids as discussions continue.

The decision to suspend the sale comes at a crucial time for Carrefour as it reviews its strategic positions not only in Argentina but also in other markets such as Belgium and Poland. The company's management is evaluating these markets to determine the best course of action, and they remain open to revising their approach should better offers emerge in the future. The pause indicates a cautious approach to divestiture amid an uncertain economic climate, especially in Argentina, where inflation and consumer behavior notably impact business operations.

This development highlights the broader challenges faced by foreign companies operating in Argentina, where the economic landscape can be volatile. Continued negotiations with potential buyers signal Carrefour's commitment to maintaining a presence in the market while seeking opportunities that align with their strategic interests. With local partners like Grupo GDN and Intercorp showing interest, there is potential for a future transaction that could reshape the retail landscape in Argentina, assuming conditions improve and proposals become more favorable within the coming months.