TURKEY: Wal-Mart "in talks to buy Migros Ticaret"
By Dean Best | 13 December 2012
Wal-Mart Stores is reportedly in talks to buy Turkish retailer Migros Ticaret from UK private-equity firm BC Partners.
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.
However, the FT also said BC Partners was in talks with other retailers. Sources said Tesco and Carrefour had also shown interest in Migros Ticaret, which has 840 stores in Turkey.
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".
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