French billionaire Bernard Arnault has reiterated that he views taking a 9.1% stake in Carrefour as a “long term investment” motivated by the group’s strong potential.
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Speaking on Europe 1 radio, Arnault said the investment made by his holding company, Groupe Arnault, and real-estate investor Colony Capital represents “a long-term investment in a group with considerable potential, whose value seems significantly underestimated and which has a enormous potential to improve its results.”
Last week, Carrefour said that it has agreed to back Arnault and Colony’s request for two seats on the company’s board.
