UK/USA: Wal-Mart mulling £5bn-plus buyout of Safeway in UK?
The world's largest retailer, US-based Wal-Mart , is believed to be eyeing the UK's fourth largest supermarket chain, Safeway , as a potential takeover target. Safeway's fortunes have turned around in the last few years, and the group recently reported its eight consecutive quarter of out-performance, with Q2 like-for-like sales up 5.4%, compared with 5% last year.
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