Walmart ends deal with Bharti

April 28, 2014 16:08
Walmart ends deal with Bharti

US retailer Walmart Stores Inc. ends its six year old high profile retail partnership with Bharti Enterprises and spent USD 334 million [Rs2,025 crores] in debt related to the purchase of  stake.

The world's largest retailer, had earlier paid USD 100 million [Rs 606 crores] to take over its Indian partner's 50 percent stake in Bharti resulting in a net loss of $151 million [Rs 915.6 crores].

The first four years of the partnership was good enough but the relations hit rock bottom over the past two years.

(AW: Vamshi)

If you enjoyed this Post, Sign up for Newsletter

(And get daily dose of political, entertainment news straight to your inbox)

Rate This Article
(0 votes)