Companies / Peru
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Wong Bullish In Face Of Takeover Speculation
May 2007 | Company Finance AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Peruvian grocery retail market leader Wong has responded positively to rumours that it is the subject of takeover speculation from south of the border in Chile, by announcing ambitious expansion plans for the remainder of 2007. The company is to open 15 new stores annually over the next two years as it looks to maintain its double-digit annual sales growth rate. However, far from warning potential suitors off, a turnover target of US$1.1bn in 2007 is only likely to further prick the attention of leading Chilean operators who are seeking an improved multinational