Wal-Mart and Bharti Enterprises are likely to sign a deal that will cement the details of their Indian retail joint venture this month, the Financial Express has reported citing Bharti chairman Sunil Mittal.
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According to the Indian business publication, Mittal said that the details of Wal-Mart’s investment and other practicalities had been ironed out.
Bharti has already announced its intention to invest US$2.5bn in the project by 2015. Bharti will manage the front-end of the retail business while Wal-Mart is expected to oversee back-end operations.
When contacted by just-food, Wal-Mart said that it is unwilling to reveal details of any negotiations until an agreement has been reached.
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