date:Aug 12, 2013
ds in the deal, which would make the combined business the leading retailer in seven of the eight highest spending areas in China.
China has proven to be conundrum for many foreign retailers.
The world's biggest and second biggest retailers, Wal-Mart Stores Inc (WMT.N) and French retailer Carrefour SA (CARR.PA) are for now slugging it out alone, although there have been suggestions that Carrefour too could be seeking a local partner.
Wal-Mart, with 380 stores, plans to open another 100 in the