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The Times & The Sunday Times
The Times & The Sunday Times
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Wal Mart makes move on India

Sarah Butler
The Times
Sarah Butler
The Times

RETAILING Wal-Mart, the world’s largest retailer, confirmed that it had signed a memo of understanding with Bharti Enterprises to “jointly explore business opportunities” in India.

The announcement confirmed widespread speculation about a tie-up after the revelation that Tesco had broken off talks with Bharti.

Reports said that Wal-Mart would be an equal partner in terms of logistical and technological support, while Bharti will be Wal-Mart’s franchisee and wholly own the retail side.