Expansion in China

Home Depot has filed a petition concerning its intention to buy the Chinese retail group Home Way with the ministry of economic affairs, which must authorise any such takeover, according to a report in the Oriental Morning Post. A decision is expected within about three months. The report also says that Home Depot is offering the parent company, Home World Group, a sum of approx. US $ 100 mio for the 14 medium-sized Home Way stores.