CHICAGO Oct 5 Wal-Mart Stores Inc is
open to potential acquisitions in China, the head of the
retailer's Asia division said on Saturday, according to the Wall
Wal-Mart, the world's largest retailer by sales, wants to
build market share in Chinese cities where it is not already the
No. 1 or No. 2 player, said Scott Price, chief executive of
Wal-Mart's Asia division, according to the newspaper.
The retailer would consider deals with foreign companies, he
said at the Asia Pacific Economic Cooperation conference in
Bali, Indonesia, according to the report.
Asia is key to Wal-Mart's global expansion plans.
Wal-Mart in August said that international operating income
fell 1.3 percent in the second quarter ended in late July.
Comparable sales fell in Canada, Mexico, Japan and Britain, but
they rose slightly in Brazil and China.
Wal-Mart's China division has revamped its compliance
division and installed a new management team, Price said,
according to the newspaper. Its online arm Yihaodian, in which
Wal-Mart bought a 51 percent stake last year, has built up 24
million users, doubling from 2012, he said.