Wal-Mart Stores has dismissed reports linking the US retail giant to a possible joint venture deal with Indian conglomerate Future Group as “speculative”.
According to a report in India’s Economic Times, Wal-Mart and Future Group – owner of Pantaloon Retail – have engaged in discussions over the possibility of the US group investing in Pantaloon’s Big Bazzar chain of hypermarkets.
Go deeper with GlobalData
However, a spokesperson for Wal-Mart Stores downplayed the report. Citing Indian restrictions governing foreign direct investment in multi-brand retail channels, the spokesperson insisted that any such report was “speculative”.
Currently, Wal-Mart operates wholesale outlets in India through Bharti Wal-Mart Pvt. Ltd, a joint venture with Bharti Enterprises. However, Indian regulations prohibit the retailer from selling directly to the public.
Pantaloon Retail was not immediately available for comment.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
