Wal-Mart, the U.S.-based mass-retailer, uses different ownership structures for its global expansion. For instance, it set up a 50-50 joint venture with Bharti Enterprises to enter India's wholesale market. In South Africa, the group paid around $2.3 billion to acquire a 51 percent stake in Massmart Holdings. It owns 100 percent of its Asda operations in the United Kingdom and 68 percent of Wal-Mart de Mexico. What could be the reasons behind these different ownership forms?