Portuguese retail and telecoms giant Sonae has launched a bid to take full control of the country's top hypermarket chain Modelo Continente. In doing so, it has grasped the thorny issue of Carrefour's stake in the company. After inheriting a 21.5% stake in the chain from Promodes, Carrefour has been both a stakeholder and a direct competitor to Modelo Continente in Portugal, where the French firm operates hypermarkets, Champion supermarkets and the Dia and Minipreco discount chains. In a statement to the Portuguese stock exchange, Sonae said it would launch an E546m bid for the 29.5% of Modelo Continente it doesn't already own ­ a price that sources close to Carrefour say is unlikely to impress shareholders. {{NEWS }}