Wal-Mart, Bharti to hold news conference

MUMBAI: Bharti Enterprises and Wal-Mart Stores Inc will hold a media conference in New Delhi at 3:30 pm on Monday, a spokeswoman for Wal-Mart said.

A senior official from Wal-Mart and the head of Bharti Retail Ltd, Rajan Mittal, will be present at the conference, she said.

NDTV Profit television said Bharti Enterprises chief Sunil Mittal said 8 joint stores had been finalised, with the first store formats to be cash-and-carry.

Earlier this year, Bharti and Wal-Mart agreed to form a joint venture for cash-and-carry stores and back-end operations in India.