Wal-Mart Expanidng in China

Wal-Mart, which already owns 66 stores in China, is competing and probably winning a bid that would cost it $1 billion to buy 100 stores from Trust-Mart a Taiwanese company owned by Winston Wang a Taiwanese Tycoon. The so called hypermarkets, which combine a department store and a supermarket in a jumbo facility with a full lineup of grocery and merchandise are in sizeable number in China and Wal-Mart’s toughest competitor that it seem it had already beaten on this bid, France’s Carrfor Sa owns a big number of them. Wal-Mart had to beat both a Shanghai and British competitors to win the bid and it is planning to close the bid in three years time. Report states that the buying is a major step for Wal-Mart in a country where the economy is growing 10% on a yearly basis and could stabilize the company that had to exit Germany’s and South Korea’s market.