Tesco said yesterday that its plan to be the first multinational supermarket retailer in India has unravelled.
The world’s fifth-biggest supermarket chain said it had ended talks with Bharti Enterprises to set up a joint venture in India’s £145bn-a-year retail sector after discussions failed.
It now looks like Wal-Mart, the biggest global retailer, could steal the markch into the world’s eighth-largest retail market.
References: Financial Times 25/11/06 page 1, Daily Telegraph 25/11/06 page 31, The Times Business 25/11/06 page 58
