It is something of a revolution in the country which once deemed yogurt-making to be a strategic industry. For the first time in the history of the fifth republic one of France’s big retail chains will be in foreign hands. Daniel Kretinsky, a Czech tycoon who made his fortune investing in coal and natural gas, is on the verge of taking control of the Casino group, which includes a chain of hypermarkets, as well as Monoprix and Franprix, two other retail chains, and convenience stores.
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