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Chile: FNE approves Walmart’s purchase of Cornershop

 |  January 14, 2019

Walmart Chile has confirmed that the National Economic Prosecutor’s Office (FNE) has given a green light to the purchase of Cornershop, an online purchasing company, by the multinational retail giant. The agreement has been estimated at around US$225 million.

The FNE initiated the investigation process on the agreement in September 2018, allowing the agency to analyze the consequences of the agreement in detail.

The purchase of Cornershop strengthens the home delivery strategy pursued by Walmart, providing new shopping avenues and access to consumers. In addition, it will allow Walmart to compete against the giants of e-commerce that have sought to gain a foothold for themselves within the country.

Full Content: America Retail

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