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* Second-round bids due in December (Adds details,

By Denny Thomas and Janeman Latul

HONG KONG/JAKARTA, Nov 17 (Reuters) - Wal-Mart Stores Inc (WMT.N), Casino Guichard-Perrachon SA (CASP.PA) and South Korea's Lotte Shopping Co Ltd (023530.KS) have advanced to the next round of bidding for Indonesian retailer Matahari Putra Prima PT's (MPPA.JK) $1 billion sale of its hypermarket business, sources with direct knowledge of the matter told Reuters.

The auction comes on the heels of Carrefour SA's (CARR.PA) sale of its outlets in Thailand, which brought the French retailer a higher-than-expected $1.2 billion including debt. [ID:nLDE6AE025]

Matahari's sale had drawn interest from private equity group Carlyle Group [CYL.UL], but sources said the buyout group did not make it to the second round. South Korea's Shinsegae Co Ltd (004170.KS) had also expressed interest, but it was not clear whether it was still in the running.

International retailers are jockeying for position in emerging markets as they look for sources of growth outside maturing U.S. and western European markets, although the cost of competing is often too much to justify widespread expansion.

Matahari is selling Hypermart, Indonesia's second-biggest hypermarket chain after PT Carrefour Indonesia, to focus on its core healthcare and property assets.

Shortlisted parties had been asked to submit next-round bids next month, a source said.

All companies mentioned in this report declined to comment.

Sources were not authorised to speak to media about the auction as the sale process is confidential.

The sale is a seen as good opportunity to raise exposure in Indonesia's retail sector, as a healthy economy, forecast to grow 6.0-6.2 percent this year, and a booming stock market lift consumption in Southeast Asia's biggest economy.

It also comes just a few months after Matahari agreed to sell a 90.76 percent stake in retail unit Matahari Department Store to a joint venture with private equity group CVC Partners [CVC.UL] for $770 million. [ID:nSGE60O0J0]

Carrefour had put the sale of its Malaysian and Singapore assets on hold after bids fell short of expectations, sources told Reuters. [ID:nTOE6AF07Z] (Reporting by Denny Thomas in Hong Kong, Saeed Azhar in Singapore and Janeman Latul in Jakarta) (Additional reporting by Brad Dorfman, Vidalon Dominique) (Editing by Chris Lewis)

Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHofOdjcHV48q9ONe_BxJmJ6VRfZw&url=http://www.reuters.com/article/idUSTOE6AG02R20101117