Russian retailer Kopeyka has issued a firm rebuttal of local reports that has held talks to sell the business.
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Kopeyka, a regional retailer that operates in and around Moscow, had been rumoured to a possible merger with X5 Retail Group, Russia’s largest retailer.
According to Russian business daily Kommersant, a source at Russian bank UralSib said X5 could also buy a stake in Kopeyka.
Kommersant also reported quoted Kopeyka Maxim Goldberg as saying X5 had made an offer to buy the business.
However, in a statement issued today (30 January), Kopeyka said the report had reached “incorrect conclusions” from “ uncorroborated evidence”.
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By GlobalData“Kopeyka never confirmed any negotiations on a merger or sale of shares with other market participants,” the company said.
Kopeyka said discussions among retail chains over the “ hypothetical possibility of such transactions” were “common practice in the industry” – but insisted that there was no deal in the offing.
When the rumours first emerged, a spokesperson for X5 declined to comment on the rumours.
“We remain focused on driving growth in our Russian retail business,” the spokesperson told just-food yesterday.
