Wal-Mart silent on reported expansion plans
By:
Updated: April 17, 2007
Officials for the Bentonville-based retail giant on Tuesday would neither confirm nor deny reports that it plans to invest more than one billion dollars to grow in that Eastern Asian country.
Amy Wyatt, a Wal-Mart spokeswoman, said the company was aware of the reports, but would not comment further.
A number of media outlets - both print and broadcast - reported Tuesday that the retailer plans to buy a Taiwanese-owned supermarket chain and convert many of them into Wal-Mart stores.
The chain - Trust-Mart - reportedly operates more than 100 stores in China. Its acquisition would more than double the number of stores that Wal-Mart now has in China. The chain currently has about 65 stores in that country.
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