date:Dec 17, 2013
Spanish discount grocer Dia is in preliminary talks to buy debt-burdened supermarket chain El Arbol, in a deal that would consolidate its position as Spain's third-largest retailer behind Mercadona and France-based Carrefour.
Dia, whose discount format has thrived in Spain during a prolonged economic slump, has been on the hunt for distressed rivals to boost its domestic presence.
Earlier, newspaper Expansion cited sources close to the deal as saying the acquisition could be agreed for around