Bharti-Walmart JV to open first store by June '08

New Delhi, Aug 6 (UNI) Bharti Enterprises today signed an agreement with world's retail giant Walmart for wholesale cash-and-carry and back-end supply chain management operations in the country and will open its maiden store by June 2008.

As per the agreement, Bharti and Walmart will hold equal stakes in the JV company Bharti Walmart Pvt Ltd.

The JV will come with the first store by June 2008.

The Bharti Walmart B2B cash-and-carry JV will service Kirana Stores, Fruit and Vegetable Resellers, Restaurants and other business owners.

''We are delighted to partner with Walmart for wholesale cash-and-carry and back-end supply chain management operations in the country,'' Bharti Enterprises Managing Director Rajan Mittal told reporters here.

UNI