French supermarket giant Carrefour is planning to spin off 25% of its €10.4bn property portfolio and sell shares in it, the company said today.

The plan to distribute shares in Carrefour Property, which owns the property the company operates from in France, Spain and Italy, should net around €1.80 a share for current shareholders analysts suggested.

Carrefour said it was undertaking the move to unlock value for shareholders.

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