German retail giant Metro has said it plans to open its first store in Serbia by the end of the year.

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A company spokesman said Metro would invest between €15m (US$18.2m) and €20m in the cash and carry store in Belgrade, reported Dow Jones International News.


At the moment Metro plans to open more stores in Serbia but will wait to see how the first store fares before revealing further details. The spokesman claimed Metro will be the first major Western retailer to invest in the region.

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