Wal-Mart Stores Inc is in talks to purchase an 80 percent stake in Turkish retailer Migros Ticaret AS from London-based private equity group BC Partners, the Financial Times reported. According to the paper, this deal would value Migros at more than $4 billion including debt.Walmart held meetings with Migros managers in recent days in Turkey but it had not placed a bid for the Turkish retailer, the paper said, citing several people familiar with the discussion.Migros could not immediately be reached for a comment.Wal-Mart spokesman Kevin Gardner said the company does not comment on rumors and speculation.
Wal-Mart Stores, Inc. (Walmart) operates retail stores in various formats around globally. Shares of WMT fell by 2.75% or $-1.95/share to $68.94. In the past year, the shares have traded as low as $57.18 and as high as $77.60. On average, 8132440 shares of WMT exchange hands on a given day and today's volume is recorded at 23402346.
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