Wal-Mart Stores, the largest retailer in the world, is establishing a team in London to look into opportunities for mergers and acquisitions in Europe. Wal-Mart has made some inroads into Europe, including its ownership of British supermarket chain ASDA, but it has faced challenges as well. In 1997, Wal-Mart bought German chain Wertkauf. The retailer was not as profitable as Wal-Mart had projected, and it was sold in 2006.
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