TOKYO: Shareholders of Wal-Mart Stores Inc say the world's biggest retailer should proceed with a plan to buy stores from Daiei Inc, a Japanese supermarket chain that is trying to restructure more than US$9bil of debt.
“It's very consistent with how Wal-Mart has expanded internationally,'' said Amy Bonkoski, an adviser at Cleveland-based National City Corp's private-client group, which manages US$26bil including Wal-Mart shares. “The more concentrated they can be in a market, the more use they can make of their distribution system and purchasing power to deliver low-priced products.''
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