• Business Today reports that Walmart "has registered a new company in India as it prepares to enter the country's lucrative multi-brand retail market with a new partner … The retailer has registered a new company called 'Walmart India Private Ltd' in the country, according to the data available with the Ministry of Corporate Affairs."
Late last year, Walmart broke up with Bharti, dissolving the joint venture originally set up so Walmart could have retail interests in India, where laws have prohibited foreign investments in retailing. When the regulatory situation did not change to Walmart's liking, the two companies decided to separate their interests, with Walmart buying out Bharti's interest.
Walmart currently has sole ownership of 20 wholesale stores in India; Bharti has, among many other interests, a chain of Easy Day-brand convenience stores.
Late last year, Walmart broke up with Bharti, dissolving the joint venture originally set up so Walmart could have retail interests in India, where laws have prohibited foreign investments in retailing. When the regulatory situation did not change to Walmart's liking, the two companies decided to separate their interests, with Walmart buying out Bharti's interest.
Walmart currently has sole ownership of 20 wholesale stores in India; Bharti has, among many other interests, a chain of Easy Day-brand convenience stores.
- KC's View:
