Turkish retailer Migros appears to fit Walmart’s acquisition criteria even if the timing of a potential deal is less than ideal.

Large emerging markets with an active online user base and solid infrastructure offer retailers the greatest e-commerce potential in the near-term, according to a new study by A.T. Kearney’s Global Consumer Institute.

Sales at Walmart’s international division increased 11.5% to $27.9 billion, aided to a large degree by a $1.3 billion currency exchange benefit, without which the sales increase would have been a more modest 6.2%.

Wal-Mart Stores on Tuesday denied reports by a Santiago, Chile, newspaper that it would consider opening banks in Chile and Argentina.

A report by Santiago newspaper Estrategia said that Wal-Mart Stores is considering opening banks in Chile and Argentina.