IS WALMART DITCHING BHARTI IN FAVOUR OF FUTURE GROUP ?

Senior officials of Walmart and Future Group have had a series of meetings in the past four months raising speculation on the possibility of a tie up between the world's largest retailer and India's largest retailer. It is understood that Mr Kishore Biyani, owner of Future Group specially flew down to Bentonville, US, Walmart's headquarters to meet Mr Doug McMillon, president and CEO of the company in December 2010. There have also been a series of meetings with senior executives since then. 
It is however reported that both companies have denied that there is  any development. These meetings though could have an impact on current  relations of Walmart with Bharti. It must be remembered that the partnership between Walmart and Bhart Group is 'non exclusive' in nature which means that Walmart can enter into agreements with other parties. Walmart currently has an equal joint venture with the Bharti Group only. Bharti Walmart operates in the wholesale and back-end segments - the two areas in retail where foreign players are currently allowed.
Bharti Walmart currently has 5 wholesale cash and carry outlets under the name of 'Best Price Wholesale' and 117 'Easy Day' stores that are run by Bharti Retail.

Source : ET29032011