View of a Carrefour Hypermarket retailer in Nantes, France, February 4, 2022. REUTERS/Stephane Mahe

PARIS, July 20 (Reuters) – Shares in French meals retailer Carrefour (CARR.PA) rose 3% on Wednesday after it agreed to promote its remaining 60% stake in its Taiwan enterprise, sparking hopes amongst some buyers it may use the additional firepower to purchase again shares.

By 0702 GMT, Carrefour shares had been up 3.01% at 17.48 euros.

The transaction, which values Carrefour Taiwan at an enterprise worth of two.zero billion euros, is about to be accomplished by mid-2023, the French firm mentioned in an announcement. learn extra

“That is at a greater value than initially speculated (which was 1.6 billion euros again in August 2021) given an estimated enterprise worth of two billion (for 100% of the enterprise),” wrote brokerage Jefferies.

“A mid-2023 completion ought to present the firepower for an additional, sizeable share buyback. We estimate an earnings accretion within the mid single digit area,” they added.

Reporting by Dominique Vidalon;
Modifying by Sudip Kar-Gupta

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