TURKEY: Wal-Mart "in talks to buy Migros Ticaret"
Reports in London today (13 December) claimed the world's largest retailer was in discussions with the buy-out house, which acquired Migros in 2008. Should a deal happen, it would mark Wal-Mart's entry into the Turkish market and boost its presence in faster-growing economies.
According to The Financial Times, Wal-Mart has yet to submit a formal bid but has indicated its interest in Migros by meeting managers in recent days.
In October, there were reports Carrefour had held in talks to combine its venture in Turkey with Migros, although the French retailer declined to comment.
When contacted by just-food, BC Partners refused to be drawn on the reports. A spokesperson for Wal-Mart also declined to comment on what he called "rumours and speculation".
Carrefour Argentina SA is expected to continue focusing its expansion strategy on building its presence through store-based retailing, with plans to increase the number of outlets in the new Carrefour...
Wal-Mart, despite having built its empire on large format “big box” stores and hypermarkets, will shift gear and seek to expand in the US through small format supermarkets, such as its Walmart Neighbo...
The arrival of Carrefour’s new global CEO Georges Plassat has led to a change in the France-based multinational retailer’s strategy at various different levels. Towards the end of the review period, t...
- Why "simple" and "real" will be industry buzzwords
- Nestle's 2014 results: 10 Things to Learn
- Why US Dietary Guidelines report deserves praise
- Maspex: M&A opportunities in eastern Europe
- The just-food interview: Bega Cheese CEO
- Kerry Group CEO expects more M&A in 2015
- Gruma FY earnings surge as margins improve
- Kerry sales, earnings rise but food weighs
- Glanbia FY profits beat analyst forecasts
- Pinnacle efficiency helps profits amid flat sales