Wal-Mart exec mum on Matahari bid

he chief executive of Wal-Mart Stores Inc's (WMT.N) Asia operations said he would not comment on whether it was bidding for Indonesian retailer Matahari's (MPPA) hypermarket business.

Sources have told Reuters that Wal-Mart has hired Barclays Capital (BARC.L) to advise it on the deal for Indonesia's second-biggest hypermarket chain, which a banker has estimated could be worth $1 billion.

While declining to comment on its possible bid for the Matahari assets, Scott Price told Reuters that he was optimistic about the growth potential of business in India, where it operates a joint venture with Bharti Enterprises.

"I think in India we've got a lot of upside," he said on the sidelines of the APEC CEO Summit in Yokohama, south of Tokyo. Source: Reuters