Wal-Mart Stores Inc. is in talks to partner with Indonesian retailer PT Matahari Putra Prima, Reuters reported, citing unidentified people with knowledge of the deal.
Wal-Mart is in discussions to develop Matahari’s hypermarkets, Reuters reported. Hypermarkets are large-format outlets that combine features of supermarkets with those of department stores.
Lotte Shopping Co., South Korea’s biggest retailer, has withdrawn from discussions for a deal with Matahari, according to Reuters. Matahari last month said it will seek a “global partner” to develop its Hypermart business.
Wal-Mart, the world’s biggest listed company, won’t comment on rumors or speculation, Anthony Rose, a Hong Kong-based vice president for corporate affairs, said in an e-mailed reply to questions. Officials of both Lotte Shopping and parent Lotte Group were unavailable for comment after office hours in Seoul.
News Source : Bloomberg
Photo Source :
Popularity: 2% [?]