Wal-Mart set to announce their Indian venture with Bharti

World’s largest retailer Wal-Mart Stores and Indian telecom giant Bharti are set to announce the details of their Indian venture.

The two companies have apparently finalized plans for a cash-and-carry joint venture in India.

A Bharti representative had this to say about the new developments: “Today’s press conference is to announce a joint venture with Wal-Mart for cash-and-carry.”

The two companies are going to hold a joint news conference in New Delhi at 3:30 pm.

This conference would be attended by a senior official from Wal-Mart and the head of Bharti Retail Ltd., Rajan Mittal.

Market sources have already quoted Bharti Enterprises chief Sunil Mittal as saying that eight stores had been finalized.

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