By Mauro Orru Shares of Casino Guichard-Perrachon plunged in early Wednesday trading after the debt-laden French grocer said two proposals it received to shore up its capital base would cause losses for existing shareholders.
"In any event, the current shareholders of Casino will be massively diluted and Rallye will no longer control Casino," the group said in a statement late Tuesday. French holding company Rallye has a 51.7% stake in Casino. Its shares fell more than 10% in early Wednesday trading.
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