Trading in Chilean retailer D&S has been suspended today (10 March) pending more information on the company’s talks with Wal-Mart.
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The Santiago Stock Exchange said trading had been halted ahead of a “news release regarding the resumption of talks with Wal-Mart”.
Chilean newspaper El Mercurio claimed today that Wal-Mart was looking to buy all or part of D&S.
The newspaper said talks had hit a stalemate due to the desire of the Ibanez family, which controls D&S, to hang on to a stake in the grocer.
Last month, Chile’s competition watchdog blocked a planned merger between D&S and local rival Falabella.
Chile’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.
