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Comercial Mexicana Says Chedraui ‘Rumors’ Are ‘Totally False’

Oct. 11 (Bloomberg) -- Mexican retailer Controladora Comercial Mexicana SAB denied a report it’s in talks to sell itself to rival Grupo Comercial Chedraui SAB, saying “rumors” of a deal are “totally false.”

“There does not exist nor has there existed any kind of approach between the two companies,” Comercial Mexicana said in a statement to the Mexican stock exchange today. Chedraui denied the talks in a statement earlier today.

Mexico City-based newspaper Excelsior columnist Dario Celis reported that Chedraui may buy Comercial Mexicana, citing sources he didn’t name.

To contact the reporter on this story: Brendan Case in Mexico City at bcase4@bloomberg.net

To contact the editor responsible for this story: Ed Dufner at edufner@bloomberg.net

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