Wal-Mart to enter Hungary?


19 January 2005 – Budapest (HUN): Wal-Mart has set its sights on the Hungarian market, according to Hungarian business daily Napi Gazdasag, which quoted unnamed sources.

The US retail giant has already acquired a site on which to build its first store, according to the report, although it quotes industry experts who suggest that Wal-Mart is more likely to enter the market through acquisition.

Wal-Mart already owns Hungarian subsidiary Global Sourcing, which was set up in 2003 to export Hungarian products.