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India: Wal-Mart spent millions to end Bharti partnership

 |  April 29, 2014

Details regarding Wal-Mart’s decision to end its partnership with India’s Bharti Enterprises have emerged in the top US retailer’s 2014 annual report.

Wal-Mart apparently paid nearly $234 million to terminate the joint venture after acquitting 50 percent of Bharti Wal-Mart. The joint venture operates under the Best Price Modern Wholesale brand.

But Wal-Mart reported a net loss of about $151 million from the venture. The company ended that partnership last October.

Full content: International Business Times

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