Walmart in talks to buy stake in Turkish retailer: FT

Thu Dec 13, 2012 6:52am IST



(Reuters) - Wal-Mart Stores Inc (WMT.N) is in talks to buy an 80 percent stake in Turkish retailer Migros Ticaret AS (MGROS.IS) from London-based private equity group BC Partners, the Financial Times reported.

According to the paper, this deal would value Migros at more than $4 billion including debt.

Walmart held meetings with Migros managers in recent days in Turkey but it had not placed a bid for the Turkish retailer, the paper said, citing several people familiar with the discussion.

Migros could not immediately be reached for a comment.

Wal-Mart spokesman Kevin Gardner said the company does not comment on rumors and speculation.

(Reporting By Vishal Krishnan Menon in Bangalore)

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