Carrefour joins hands with rival Big C in Thailand

In its company statement, Big C stated that it had plans to increase the number of hypermarts to 103 and a combined 2010 estimated turnover of over THB100 billion (US$ 3.32 billion).

Carrefour's decision to sell its operations in Thailand is believed to be a part of its strategy that will enable growth prospects and secure a lead position in the medium- or long-term.

The fifth-largest player in Thailand, Carrefour has been present in the kingdom since 1996 and operates 42 stores including 34 hypermarkets.

Carrefour has recently been in news since announcing its plans to sell off its Singapore and Malaysia hypermarts.

It later changed its mind and aborted the sell-off plans, attributing the reasons to creating more value by being in the two key markets.