Bharti, Wal-Mart JV to have multi-firm back end

Bharti Group today indicated that it could float more than one company in joint venture (JV) with Wal-Mart, the world's biggest retailer, to manage back end operations of its retail business.

"The front end of the retail business (outlets) would be owned completely by Bharti. For cash and carry and back end operations like logistics and supply chain we will partner with Wal-Mart," Rajan Mittal, joint managing director, Bharti Group, said.

When asked if separate companies could be floated to look at different aspects of back end operations in retail, he said, "this is what we are looking at."

Rajan, who is handling the retail venture for the group, said the details of the Bharti,Wal-Mart JV would be finalised soon. He said after the formalities were completed, the roll out of the stores would begin soon.

The partnership which was agreed upon in November last year, created a political storm with the Left parties opposing it. However, after a review, the government found that the JV conformed to all the foreign direct invest (FDI) norms and regulations.