DixieDestroyer
Hall of Famer
Globalist minded/controlled "Wallyworld" continues to be deeply in bed with Red China & it's slave labor, inferior products. This is why I stopped spending my hard earned fiat currency there long ago.
Wal-Mart plots bid for Chinese retail giant
By Mark Kleinman in Hong Kong
Last Updated: 12:23pm BST 19/07/2007
Wal-Mart operates about 70 stores in China
The Arkansas-based company has asked a team of advisers at Credit Suisse, the investment bank, to draw up plans to buy part or all of Beijing Hualian, a hypermarket operator which owns scores of stores in the capital and other cities across China.
The two sides are believed to have held some preliminary talks about a deal, although it was unclear what stage these negotiations had reached.
One person familiar with the situation said Wal-Mart may decide not to go ahead with an investment in Beijing Hualian but added: "They have been looking hard at this."
Analysts speculated that Beijing Hualian, which is part-owned by Beijing's municipal government and has some of its shares listed in Shanghai, would be worth well over $1bn.
One of the company's most senior executives, Yves Chen, quit earlier this year to run the Chinese operations of the American retailer Home Depot.
If Wal-Mart does proceed with a formal offer to invest in the Chinese group, it would greatly accelerate its growth prospects there.
Wal-Mart operates about 70 of its own hypermarkets in the country, although a deal signed in February to acquire 35pc of the owner of Trust-Mart, a Taiwanese-founded chain, gave it a stake in a further 100 outlets.
Other foreign retailers, including Tesco and the French group Carrefour, have also invested heavily in China in recent years.
A Wal-Mart spokesman said the company had "made no announcement about any deal" and refused to comment further. Beijing Hualian could not be reached for comment.
Wal-Mart's interest in Beijing Hualian has also emerged at a time of rising tension between the US and China over a host of trade issues, including the safety of Chinese exports and the Asian country's massive trade surplus.
Wal-Mart has come under intense fire from pressure groups which have branded it "anti-US" over its reliance on Chinese-manufactured goods.
***Reference article -
[url]http://www.telegraph.co.uk/money/main.jhtml;jsessionid=EKM2B QLXS1J2ZQFIQMGSFGGAVCBQWIV0?xml=/money/2007/07/18/bcnwal118. xml[/url]
Wal-Mart plots bid for Chinese retail giant
By Mark Kleinman in Hong Kong
Last Updated: 12:23pm BST 19/07/2007
Wal-Mart operates about 70 stores in China
The Arkansas-based company has asked a team of advisers at Credit Suisse, the investment bank, to draw up plans to buy part or all of Beijing Hualian, a hypermarket operator which owns scores of stores in the capital and other cities across China.
The two sides are believed to have held some preliminary talks about a deal, although it was unclear what stage these negotiations had reached.
One person familiar with the situation said Wal-Mart may decide not to go ahead with an investment in Beijing Hualian but added: "They have been looking hard at this."
Analysts speculated that Beijing Hualian, which is part-owned by Beijing's municipal government and has some of its shares listed in Shanghai, would be worth well over $1bn.
One of the company's most senior executives, Yves Chen, quit earlier this year to run the Chinese operations of the American retailer Home Depot.
If Wal-Mart does proceed with a formal offer to invest in the Chinese group, it would greatly accelerate its growth prospects there.
Wal-Mart operates about 70 of its own hypermarkets in the country, although a deal signed in February to acquire 35pc of the owner of Trust-Mart, a Taiwanese-founded chain, gave it a stake in a further 100 outlets.
Other foreign retailers, including Tesco and the French group Carrefour, have also invested heavily in China in recent years.
A Wal-Mart spokesman said the company had "made no announcement about any deal" and refused to comment further. Beijing Hualian could not be reached for comment.
Wal-Mart's interest in Beijing Hualian has also emerged at a time of rising tension between the US and China over a host of trade issues, including the safety of Chinese exports and the Asian country's massive trade surplus.
Wal-Mart has come under intense fire from pressure groups which have branded it "anti-US" over its reliance on Chinese-manufactured goods.
***Reference article -
[url]http://www.telegraph.co.uk/money/main.jhtml;jsessionid=EKM2B QLXS1J2ZQFIQMGSFGGAVCBQWIV0?xml=/money/2007/07/18/bcnwal118. xml[/url]