Reliance looks for stake in Carrefour

New Delhi: Mukesh Ambani's Reliance group is reportedly in talks with French retail major Carrefour to buy out some of its subsidiaries.

Carrefour is the world's second-largest retailer and the largest in Europe and has over 12,000 stores across the world. Reliance Industries (RIL), on the other hand, has a war-chest of Rs 1,00,000 crore.

RIL is looking at accessing global markets by leveraging on its supply chain that was put in place as part of the farm-to-fork project.

Besides Carrefour, Reliance is also talking to tier-2 companies like Salisbury and Marks and Spencer for food business, PTI reported.

The French retail giant's plans to tie-up with Bharti in India soured last year, after it was reported to be talking to the Wadias for setting up a joint venture with them.