Carrefour, Europe's leading retailer – and second only to Wal-Mart in the world rankings – has awarded America’s Clear Channel Communications an exclusive E1 billion ($861.1 million) license to install advertising billboards in parking lots at its 311 hypermarkets across Europe.

Clear Channel scooped the deal, say insiders, after a toe-to-to with French rival J C Decaux Group and Giraudy, a French unit of Viacom. But the lips of all concerned are tightly zipped, with Carrefour conceding only that it has issued a tender offer to “an international group” for a long-term advertising space contract within its parking lots.

French-headquartered Carrefour operates throughout Europe with its main strongholds in France and Spain alongside stores in the Czech Republic, Greece, Italy, Poland, Portugal and Turkey.

News source: Wall Street Journal