(Yicai Global) April 28 -- Walmart and Wumart Stores have denied a report that said the US retail giant will sell 130 of its stores in China to Wumart for USD3 billion.
Walmart told Yicai Global that the report was just baseless rumor and there was no need to comment on rumor. Beijing-based Wumart also said the report was not true, according to a National Business Daily report
Financial media Jiemian reported earlier today that Bentonville-based Walmart plans to sell about 130 stores in the north and northeast of China to Wumart for USD3 billion. The sale would not include Sam’s Club outlets, it added.
Jiemian quoted a person close to the deal as saying, “everything is subject to change as long as it is not announced.”
Editor: Peter Thomas