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Wal-Mart to take control of Trust-Mart's China ops by 2010


Published : Fri, 02 Mar 2007 07:20
By : Agencies
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BEIJING (XFN-ASIA) - Wal-Mart Stores Inc will take control of Taiwan-based Trust-Mart's China operations by 2010, a company official said.

'Wal-Mart has an option to gain majority control. As for a time frame, we see this happening around 2010,' Jonathan Dong, Wal-Mart China director of public relations, told XFN-Asia.

He declined to reveal the cost of the stake purchase.

Wal-Mart, based in Bentonville, Arkansas, said it is buying 35 pct of Chinese firm Bounteous Co Ltd, which operates 101Trust-Mart retail stores in 34 cities across China.

andrew.pasek@xinhuafinance.com

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