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By Sarah de Sainte Croix, Contributing Reporter

RIO DE JANEIRO, BRAZIL – Last week a deal that looked set to alter the face of the Brazilian retail sector for good floundered. The proposed merger between Brazilian supermarket chain Pão de Açucar and French retail group Carrefour collapsed amidst a storm of controversy. Carrefour, however, seems determined to have a slice of Brazil’s ever-increasing pie and is reported to be considering a merger with U.S. retail giant Walmart instead.

The Pão de Açucar deal collapsed when the Brazilian state-owned development bank, the BNDES, withdrew . . .

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