TAIPEI (Taiwan News) — Following reports last week that French retailer Carrefour was planning to sell off its supermarkets in Taiwan, the local branch was still unable on Tuesday (Aug. 17) to confirm or deny the accuracy of the news.

The French company had hired Morgan Stanley to manage the sale of Carrefour Taiwan with a price tag of €1.6 billion (US$1.88 billion), the reports said. Only last year, the retailer acquired Wellcome Taiwan, including the Jasons Market Place brand, resulting in control of over 224 supermarkets.

On Tuesday, Carrefour Taiwan said it had been unable to consult with the head office in France due to the weekend, so it was not possible to comment on the accuracy of media reports about any sale, UDN reported.

The comments came as Carrefour opened an outlet in Taipei City’s Nangang District after one year of absence. The company said the area was seeing an influx of new residents with the construction of new apartment complexes.