The rescue of cash-strapped French supermarket chain Casino is triggering a billionaires contest pitting French telecoms maverick Xavier Niel against Czech energy tycoon Daniel Kretinsky in two rival investment proposals.
Read the full article on the Reuters website
NAM Implications:
- Looks like a rescue will buy a little extra time for Casino.
- However, suppliers will have calculated their credit exposure to Casino…
- …and decided to remain on board, hopefully.
- But the ongoing uncertainty will cause suppliers to revert to short-term initiatives.
