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Grupo Elektra expanding in Argentina

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Grupo Elektra Mexican retail giant will open operations in Argentina in 2007, offering banking and retail services. It is believed that the company has planned such operations either in the form of a new venture or through acquisition.

Besides this the company is also eyeing Brazil as its next step into South America. The company has already applied for a banking license in Argentina. Luis Echarte, chairman of Azteca America said that the investigation in Brazil is going on. He further said that the company is aiming to have its presence in all the major countries in South America.

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