Russia’s two largest food retailers, X5 Retail Group and Seventh Continent, have placed rival bids to acquire stakes Russian discount grocery chain Kopeika, the Vedomosti business daily reported today (5 December).
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The paper cited a source at Russian bank Uralsib, owner of Kopeika, who reportedly said that Uralsib boss Nikolai Tsvetkov had received the bids for unspecified stakes.
Kopeika has a network of 267 discount stores and four distribution centres.
