Wal-Mart (WMT) is ending its Indian joint venture with Bharti Enterprises after six years. Wal-Mart will buy Bharti's 50% holding in Bharti Wal-Mart, which operates 20 wholesale stores, while Bharti will acquire compulsory convertible debentures that Wal-Mart holds in Bharti-owned Cedar Support Services. The move doesn't come as a total surprise given the speculation that Bharti wanted out. Wal-Mart has held back from further investment and store openings in India due to regulations.
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