Carrefour's CEO Lars Olofsson said the company is considering re-entering Russia after pulling out of the country earlier this year, according to reports.

The FT reported that Olofsson said: "If we go back into Russia, it will be through an acquisition. I pulled out last year because you can't win with little guns when big cannons are against you."

Carrefour decided to exit the country in October last year, just four months after opening its first store in the country due to the absence of sufficient organic growth prospects" and "acquisition opportunities" that would have allowed the business to attain a "position of leadership" in the market.