We just told you that WM is a top contender to take over Daiei. Well, it seems Japan wants domestic ownership of Daiei, so Wal-Mart is out of the running:
Wal-Mart's bid for Daiei may have been hampered by its mixed success in turning around another Japanese retailer, No. 4 Seiyu Ltd., in which it is a major shareholder.Wal-Mart's candidacy had been backed by trading house Sumitomo Corp., U.S. investment fund Cerberus, and U.S. investment bank Goldman Sachs (Research).
Posted by Kevin on January, 21 2005 at 10:27 AM
