India's Bharti Group to launch jv with Wal-Mart

[OhioChick]

11.27.2006, 01:35 AM

NEW DELHI (XFN-ASIA) - Bharti Group is to launch a joint venture in India with Wal-Mart Stores Inc, a company statement said.

The agreement 'allows the two companies to study and evaluate the retail market in India and identify business opportunities together within the existing guidelines,' Bharti said in a statement.

The statement did not give details, but reports quoted company sources as saying that Bharti will manage the front-end of the retail business and Wal-Mart will take care of the supply chain, logistics and other back-end operations.

The Bharti Group, which has interests spanning from agri-business to telecoms, had been in talks with Tesco PLC but the negotiations were called off earlier this month.
http://www.forbes.com/home/feeds/afx/2006/11/27/afx3204383.html