Chilean grocer D&S has dismissed reports that it has held talks with Wal-Mart over a possible sale to the US retail giant.
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D&S moved to quash the speculation after shares in the company were suspended yesterday (10 March).
The trading halt came after Chilean newspaper El Mercurio claimed Wal-Mart was looking to buy all or part of D&S.
In a statement, D&S said it had not “held or sustained contacts with Wal-Mart” over the claims made in El Mercurio.
The speculation comes just weeks after Chile’s competition watchdog blocked a planned merger between D&S and local rival Falabella.
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By GlobalDataChile’s Tribunal de Defensa de la Libre Competencia said the merger would lead to a “huge change” in the country’s retail sector.
“(The merger) would create a company that would be the dominant player in retail,” the tribunal said in its ruling.
