MEXICO CITY — Shares of Comercial Mexicana rose nearly 8% late last week following reports that Carrefour was interested in buying the Mexican retailer. However, an executive for the local retailer said in published reports his company was not aware of any interest by Carrefour.
Earlier last week, bondholders of Comercial Mexicana approved a proposal to exchange existing bonds for new debt after the company defaulted on debt last October. Carrefour had operated 29 stores in Mexico until 2005, when it sold them as part of a plan to divest less profitable assets.
Comercial Mexicana is Mexico's third largest supermarket operator, with hypermarkets, conventional supermarkets
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