Wal-Mart may enter Hungary
Wednesday, February 15, 2006, 16:12
Wal-Mart announced plans to buy all of Louis Delhaize's Hungarian stores operating under the Cora, Profi, Alfa, and Match banners, according to the daily Napi Gazdaság.
This puts the firm in direct competition with the Hungarian arm of Tesco, which has just opened two new stores and petrol stations in Szolnok and Szentes adding to its portfolio of 57 outlets. Hungary's retail sector is currently dominated by foreign-owned hypermarkets like Tesco Rt, Auchan Kft, Cora Kft and Metro Kft - names already firmly rooted in countries across Central and Eastern Europe (CEE). Tesco has been established in the Hungarian market for 11 years and is the largest retail chain in the country employing around 17,000 people.