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SUNDAY, NOVEMBER 29, 2009 4:58 AM IST

 Retail plans: Kishore Biyani. Hemant Mishra / Mint

Retail plans: Kishore Biyani. Hemant Mishra / Mint

Retailer Future Group and French chain Carrefour SA have brought talks of a partnership back to the table.

Carrefour officials had a meeting recently with top executives at Future Group’s flagship Pantaloon Retail India Ltd, people familiar with the development said on condition of anonymity. A deal is being worked out, the people said.

Foreign direct investment rules in India do not allow multibrand retail by a foreign group, but companies with Indian management are allowed to bring in foreign funds in individual subsidiaries. Future Group chairman Kishore Biyani is looking to leverage this for raising money for Future Fashion Merchandise (FFM), a separate unit under Pantaloon Retail.

Biyani declined to comment on the issue.

cnbctv18@livemint.com

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Anj Said:


To Mr. Biyani (and those who are reading this) Dont invest money into French and other Collaborations in Future. I invest my hard earned money in your creations. A loyal Green Card holder. I know how MNCs want to loot us. I am a proud Indian and want my money to benefit those needy people who work and labour for your outlets. If it goes to them as a paycheck, instead of a "Foreign Shark", who earns all profit, that would be injustice. In short, Be Indian, buy Indian, say no to Foreign Brands!! Regards, Anj

Posted On 5/31/2009 5:45:21 PM