US retail titan Wal-Mart has said it is still interested in playing a part in the rehabilitation of Japanese retailer Daiei, after a Japanese newspaper reported the US company was considering withdrawing its bid.
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Wal-Mart denied the report in the Nihon Keizai newspaper that claimed the US retailer may pull out of the process as it cannot gain full control of Daiei, reported Reuters.
“The report is not true. We are still interested in Daiei,” Billie Cole, director of Wal-Mart corporate affairs in Japan, was quoted by Reuters as saying.
The restructuring of Daiei is being overseen by the Industrial Revitalisation Corp of Japan (IRCJ), which has been looking for companies to sponsor the restructuring.
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