Fear of foreign takeover of Metro

Fear of foreign takeover of Metro

Marcel Crolio, head of the Union of Producers of Farmers (UPA), believes that Quebecs will behave like the French if a foreigner tries to capture the metro.

“If an American company wants to get its hands on a metro in Quebec, there will be similar government reactions because it will be the last banner of Quebec ownership,” he said. Crolio warned.

Last Friday, French Economy Minister Bruno Le Myre closed the door on the face of the Quebec company Cooch-Dart, which he believed would buy the Carrefour banner in the name of “food security”.

However, for UPA ‘s Marcel Crolio, this saga is not the same as the 1998 change of hands of Provico, who rocked Quebec.

“When Lopla bought Provico, all business decisions were transferred to Toronto, Ontario, which had an impact on Quebec suppliers,” the union’s number one recalled.

Quebec should be wet

According to him, this distribution concentration is not less than “risk to food security”.

According to Marcel Crolio, if Corey-Dart succeeds in buying Carrefour for $ 25 billion, they will have to cut costs to make the acquisition profitable, and this will affect Carrefour’s French suppliers.

For his part, Michael Nado, an executive expert who was instrumental in selling Provico to Lobla in Ontario while Guys was in the depot, believes the Quebec government should clearly declare any opposition to the acquisition of Metro.

“If we touch my metro I say I’m going to kick on stretchers like Mr. Le Myre. It’s a little systematic,” he said.

– In collaboration with Sylvain Larrock

READ  AusPost execs might continue to get $7m in bonuses inspite of promising to just take paycut

You May Also Like

Cory Weinberg

About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

Leave a Reply

Your email address will not be published. Required fields are marked *