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Wal-Mart's potentially devastating effect on mom-and-pop businesses has been widely reported, but many in the industry argue that Wal-Mart is now large enough that it is also driving midsize to large players out of business and speeding consolidation among others.
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Those trends have increased pressure on exchanges like London's to issue their own shares to speed consolidation.
That takeover stirred renewed fears about Spain's banking sector in financial markets, and analysts said the move was likely to speed consolidation by other regional savings banks.
On Wednesday, the Spanish central bank sent a strong signal to the country's ailing savings banks to speed consolidation by releasing new guidelines on provisioning against bad and doubtful loans.
The agreement was announced as pressure built on Spain's unlisted regional savings banks to speed consolidation after the Bank of Spain took control on Saturday of the savings bank CajaSur when its merger talks with Unicaja failed.
In Bulgaria, a government-sponsored merger programme in the early 1990s was so badly designed that it led to widespread asset-stripping and insider privatisations.A better way to speed consolidation is simply to raise minimum capital requirements, forcing the weakest banks to seek new partners or shut up shop.
Will the corporate tax changes in Germany help speed consolidation there?
Solis credits the scramble to win the Western account with speeding up consolidation and Web site development.
The firms likely to join Mittal Steel as global consolidators will come, argues Mr McLaughlin, from Russia, Brazil and possibly even China.China's rise as a steel superpower and its potential to swamp global markets has certainly helped speed consolidation.
The long-rumored deal would speed the consolidation of Europe's airlines.
The purchase of Eckerd could speed a consolidation of other drug chains, leaving a few giants to battle Wal-Mart for customers.
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