ESPACIO PUBLICITARIO
CARACAS, Monday January 18, 2010 | Update
 
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Economy
French retailer Casino says that Éxito nationalization "changes nothing"
  EL UNIVERSAL
Monday January 18, 2010  01:47 PM


French retailer group Casino said on Monday that the nationalization by the government of Hugo Chávez of its subsidiary Éxito stores in Venezuela, which is also owned by a Colombian company, "changes nothing for the growth outlook and profitability of the group," a spokesperson of the company said.

Éxito, which is located in Venezuela, represents "about 1 percent" of the current turnover of the French retailer and the contribution of the Venezuelan unit to the group profit was "almost zero," said the source.

Questioned about whether the group would file any legal complaint, the source said that the company "is assessing the situation."

Casino owns 67.1 percent of Cativen, a subsidiary which operates six Exito hypermarkets and around 35 Cada supermarkets in Venezuela.

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US Sanctions


Maduro rejects sanctions against Venezuelan officials

US SANCTIONS Venezuelan President Nicolás Maduro rebutted on his Twitter account US President Barack Obama's decision to sign into law a bill imposing sanctions on Venezuelan officials for human right abuses. Maduro remarked that Obama has made "a false move" against Venezuela.

Obama okays sanctions against Venezuelan government officers

US SANCTIONS US President Barack Obama enacted on Thursday a law aimed at imposing sanctions on Venezuelan government officers accused of violating human rights, the White House reported.

"We have tried to improve relations with Obama, but have been rebuffed"

GOVERNMENT In an article published in the New York Times, entitled "Hectoring Venezuela on Human Rights," Venezuelan Congress Speaker Diosdado Cabello stated that the Venezuelan government was willing to improve its relation with the United States.

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