Carrefour doesn't rule out IPO for Chinese unit

PARIS, France - French retailer Carrefour does not rule out listing its Chinese unit, chief executive Georges Plassat was quoted as saying in French daily Les Echos on Monday.

He said Carrefour could follow the same scenario as in Brazil, where it sold a 10 percent stake in its business to billionaire Abilio Diniz last month, in a step towards a possible separate listing.

"We have a similar target in China, where he have worked for twenty years with local partners ... without ruling out the idea of a stock market listing," he told the paper.

He said he saw enormous potential in China, where he expects the middle class will grow from 230 million people to 630 million in ten years.

On Friday, Carrefour published fourth-quarter results boosted by its Brazilian and French operations, but trading conditions remained weak in China, amid slowing consumption and a government crackdown on lavish spending.

Carrefour stock was down 0.2 percent in early trading, underperforming the Stoxx Europe retail index, which was up 0.25 percent.