Casino won't throw in its hand

"Our strategy in Poland hasn't changed - we want to continue developing," the group's spokesperson Damian Ponczek said. "We have plots of land and we plan to open new outlets," he added.

Following a company statement that it is conducting a strategic review of its activities in Poland, rumors began circulating that the retail operator was considering shutting down its activities in the country. Sources claimed that Casino wants to raise cash to cut debt and is therefore planning to sell its 18 Geant hypermarkets and 279 Leader Price supermarkets in Poland.

Other reasons for the speculated sale include stiff competition in the Polish market and possible legal changes that could be introduced by the Polish government, such as a proposed ban on Sunday trading or limiting the construction of large new retail outlets.

Casino's Ponczek admitted that the French group is carrying out a review of its financial activities in Poland. "But one shouldn't draw any far-reaching conclusions from it. This is absolutely normal in business," stressed the Casino spokesperson.

Press speculation claims that Tesco and Carrefour could be interested in acquiring Casino's assets if it were to leave Poland. "We are looking for all opportunities to expand," said the director of investment and expansion at Carrefour Polska, Thomas Schoutens. But he underlined that Carrefour would be interested in acquiring Casino's assets only if it involved obtaining the rights to use and exploit the buildings. "We haven't made any offer because we are not interested in buildings only," Schoutens said.