Grupo Gigante sells stake in joint venture with Radio Shack

12/17/2008 | CNNMoney

Radio Shack has bought Grupo Gigante's stake in their joint venture after the two companies failed to come to an agreement on an expansion strategy. The move boosts the cash reserves of the Mexican retailer and makes Radio Shack the sole owner of Radio Shack de Mexico. "Upon analysing the different scenarios and conditions put forth, and not having arrived at an agreement allowing [the two companies] to move forward together and expand into Latin America, Grupo Gigante decided to sell," Gigante said.

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