News: Bharti to choose foreign retail partner

(RTR 07/09/2006) New Delhi - Bharti Enterprises Ltd, a diversified telecomm conglomerate, is close to finalising an overseas partner for its proposed retail venture, the company chairman said on Wednesday.

Bharti is in talks with US-based Wal-Mart, Britain's Tesco Plc and Carrefour for its retail plans.

Sunil Bharti Mittal said Tesco is a strong contender. "We are coming close to finalising the partner," he told reporters.

It will happen by the end of this month, said Mittal, who also runs India's top mobile services provider, Bharti Airtel Ltd.

Once the partner is finalised, the retail venture will begin operations early next fiscal year starting April 2007, he said.