Wal-Mart Stores Inc., the world's largest retailer, is negotiating for a possible association or strategic stake in Indian logistics firm Radhakrishna Foodland, the Economic Times reported on Thursday.
“Wal-Mart is interested in closely working with us but it is too early to comment on where the discussions will take us,” company founder Raju Shete told the paper, adding he intended to be part of the business for as long as he could.
The unlisted Radhakrishna group, which also has a food business, could not be immediately reached for comment.
Senior executives from Wal-Mart had visited the back-end facilities of Radhakrishna and discussed partnership with senior group officials, the report said.
Wal-Mart has also been negotiating with the Bharti group, which runs the country's largest mobile phone business, for a joint venture in cash-and-carry and back-end supply for Bharti's retail operations.
Source : Reuters