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Friday, Aug 30
Wal-Mart readies formal proposal for Indian regulators
- Wal-Mart (WMT +0.5%) is close to formally asking the Indian Trade Ministry for permission to operates supermarkets in the nation.
- The U.S. retailing giant will be the first company to test new rules in the nation which allow foreign companies to own a 51% stake in supermarkets.
- If the past is prelude, Wal-Mart could see a few more hiccups before it's actually up and running in India.