UK: AOL And Wal-Mart's ASDA Take Stake in ShopSmart.com
AOL UK, the European affiliate of America Online and a provider of interactive services, and ASDA, the UK affiliate of Wal-Mart, said they have entered a four-year strategic marketing agreement. The companies will jointly take a 22.5 per cent equity stake in ShopSmart.com, an online British shopping directory. The agreement enables ASDA to enter the online marketplace while giving AOL access to one of the largest retailers in the U.K. ShopSmart.com will receive exposure in ASDA stores in the UK and Wal-Mart stores in Germany. The company will also become the exclusive price comparison service for AOL Europe in Germany and the UK, with an additional banner package in each country.For more information visit
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