Walmart eyeing acquisitions in China: Wall Street Journal
CHICAGO (Reuters) - Walmart Stores Inc is open to potential acquisitions in China, the head of the retailer's Asia division said on Saturday, according to the Wall Street Journal.
Wal-Mart, the world's largest retailer by sales, wants to build market share in Chinese cities where it is not already the No. 1 or No. 2 player, said Mr Scott Price, chief executive of Walmart's Asia division, according to the newspaper.
The retailer would consider deals with foreign companies, he said at the Asia-Pacific Economic Cooperation conference in Bali, Indonesia, according to the report.
Asia is key to Walmart's global expansion plans.