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Wal-Mart retreats from Hungary

U.S. retail giant Wal-Mart Store Inc. has decided to wind up its Hungarian project company Global Sourcing Kft early this year, Napi Online reported. According to market analysts, the move means Wal-Mart decided against entering the CEE market.
Earlier press reports said Wal-Mart was interested in entering through acquisition, naming Magyar Hipermatrket Kft, the operator of Cora stores in Hungary, as the most likely target.