A US$1-billion deal makes Wal-Mart the largest food and department store network in the world's fastest growing country.
Wal-Mart's purchase of the Chinese chain of stores follows the exit of the world's biggest retailer from unprofitable forays into Germany and South Korea.
As reported by the Associated Press on October 17, 2006, the deal is subject to the approval of Chinese regulators.
If successful, Wal-Mart will surpass Carrefour SA of France which currently owns the most hypermarkets in China.
With the price of gas falling, consumers can make more trips to Wal-Mart stores bring more cash in their pockets. So the future of Wal-Mart looks very bright indeed.
