Keep calm and buy more avocadoes: Walmart/Cornershop deal falls [Reuters]
Costco Wholesale Corporation (COST)
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Source: Reuters
Keep calm and buy more avocados: Walmart-Cornershop deal falls - Reuters 2 Min Read SANTIAGO (Reuters) - Walmart and delivery app Cornershop have ditched plans to link up after Mexican anti-trust officials blocked the deal earlier this month, Cornershop co-founder Oskar Hjertonsson said on Twitter. Walmart had struck a deal to buy the popular app for $225 million in a bid to boost its e-commerce ambitions in Mexico, one of the retailer’s priority markets, and better compete with Amazon.com online. Cornershop’s Hjertonsson confirmed late on Wednesday that the deal was off. “We respect their decision, and there’s no turning back,” he said on Twitter, advising his followers to “Keep calm and order even more avocados.” Walmart could not be immediately reached for comment. Reuters reported exclusively last week that Mexican officials blocked Walmart Inc’s move to purchase Cornershop because it could not guarantee a level playing field for rival retailers, whose customers use the app to ord
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COST
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