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Getting cashback now finally an option in French supermarkets

Having the option of withdrawing cash from your account while paying for your groceries at the supermarket till is finally an option in France as of Monday.

Getting cashback now finally an option in French supermarkets
Photos: AFP

“Any cashback?” is a question Brits, Americans and perhaps readers from other countries will be used to hearing at supermarkets back home. 

But for food shoppers in France this query remains pretty unknown, relying instead on ATM machines and actual banks to get their hands on cash from their accounts.

Fortunately, French supermarket chain Casino has clocked on to this very handy service available for over a decade in other countries and from the end of September will allow customers at 150 of its supermarkets to withdraw money while paying for their groceries.

Supermarket shoppers will be able to draw out between €10 and €50 while paying their food bill with their debit or credit cards.

Casino already rolled out the cashback service in 80 of its Géant hypermarkets in France in May 2018 but this latest expansion represents the true arrival of the helpful withdrawal service across l’Héxagone.

“Geant Casino is the first supermarket in France to offer a free cash withdrawal service. Launched this summer in 80 hypermarkets, the service will also be deployed at the end of September in 150 Casino supermarkets equipped with self-service tills,” reads Casino's tweet above. 

“Our goal is to support our customers as much as possible and to make their day-to-day lives easier,” said Casino, adding that they do intend to “compete with the banks”.

Not that the service has become an instant success just yet.

“At the moment we record a dozen transactions a week,” Eric Chabert, store manager at a Géant in Paris’s thirteenth arrondissement, told Le Parisien.

A total of 500 more cash registers in Casino supermarkets will offer the cashback service by the end of September.

Other countries that already have cashback services at their supermarkets include the United States, the UK, the Republic of Ireland, Belgium, Germany, Sweden, Norway, Canada, Poland, the Netherlands, Australia and New Zealand.

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RUSSIA

Spanish court probes Russian tycoon’s purchase of supermarket chain Dia

Spain's top criminal court said Thursday it has opened an investigation into whether Russian tycoon Mikhail Fridman artificially depressed the share price of supermarket chain Dia before buying the firm.

Spanish court probes Russian tycoon's purchase of supermarket chain Dia
File photo of a Dia supermarket. Photo: AFP

The Kremlin-friendly oligarch appeared in court in Madrid on Monday as part of a separate similar case in which judges are investigating allegations he acted to bring down the value of another Spanish takeover target, digital entertainment firm Zed Worldwide.   

He denied all charges in that case in a statement released after he was questioned in court.

An investigating judge with the National Court “has begun investigating a complaint” against Fridman and his Luxembourg-based investment company LetterOne “in connection with its acquisition of Dia”, according to a document from the court published Thursday.   

In May, LetterOne secured majority control of the struggling supermarket chain via a hostile takeover following a bitter dispute with its previous management as the firm's share price slumped.

The judge is investigating allegations made in an anonymous complaint that LetterOne “maintained a heightened financial tension to lower the share price, until it managed to buy the company,” the court document said.

Spain's Supreme Court had in September given the National Court a mandate to investigate this case which it said could constitute the crime of “market manipulation” and could have had “serious repercussions on… the national economy” given the size of Dia's supermarket network in the country, the document added.

It cited a police report alleging that Fridman acted in a “coordinated and concerted way” through a network of “criminal associates… to create a situation of conflict… and lack of liquidity in the short term” so as to lower Dia's price and buy the firm.   

In a statement, LetterOne called these allegations “totally false and defamatory”.

“The reality is Dia suffered from mismanagement and accounting irregularities were discovered, which negatively affected all shareholders, including LetterOne,” it added.

LetterOne said it was “committed” to investing 1.6 billion euros to protect jobs, suppliers and keep stores open.

Through LetterOne, Fridman also controls interests in telecoms, banking, oil and healthcare.   

The tycoon, who is reportedly close to the Kremlin and was listed by Forbes this year as London's richest resident, is also one of the founders of Alfa Bank, Russia's largest privately-held lender.

READ MORE: From Russia with love: Tycoon buys out ailing Spanish supermarket

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