Reuters: Global Markets: Migros plays down Wal-Mart report

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Migros plays down Wal-Mart report Dec 13th 2012, 17:58 ISTANBUL | Thu Dec 13, 2012 12:58pm EST ISTANBUL (Reuters) - Turkish retailer Migros Ticaret AS (MGROS.IS) poured cold water on a report that Wal-Mart Stores Inc (WMT.N) was in talks to buy an 80 percent stake, sending its shares lower after an initial spurt on Thursday. Migros shares rose nearly 9 percent in early trade after the Financial Times said Wal-Mart was in talks to buy the stake from London-based private equity group BC Partners in a deal that would value it at more than $4 billion including debt. "As a private equity company, BC Partners periodically assesses options for various of its investments, including Migros," Migros said in a statement. "The talks underway are a regular part of (BC Partners') workflow," the statement said. It did not mention Wal-Mart. Wal-Mart declined to comment on the report. Migros shares erased their initial gains and closed down 2.65 percent at 22 lira after the Migros statement.

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