PHILIPPINES: Wal-Mart Still Keen On Uniwide
Cash-strapped Uniwide Group of Companies is awaiting the results of a company evaluation conducted by US retail giant Wal-Mart Stores, Inc before the parties enter into formal talks for possible cooperation. A source told Philippines-based BusinessWorld yesterday that Wal-Mart is still interested in Uniwide as a vehicle for its foray in the Philippine retail business. This is contrary to speculations that the US retailer has already junked discussions with Uniwide.
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