Russian retailer X5 Retail Group has remained silent on reports that it has made a move to acquire Kopeika Trading House.
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Kopeika is a regional retailer that operates in and around Moscow. The company’s CEO, Maxim Goldberg, reportedly told Russian business daily Kommersant that X5 had made an offer to buy Kopeika in December.
Citing a person close to UralSib – a Russian bank owned by the same tycoon as Kopeika – Kommersant reported that X5 may either merge with Kopeika, or buy a stake in the privately-held rival.
When contacted by just-food, a spokesperson for X5 declined to comment on the rumours.
“We remain focused on driving growth in our Russian retail business,” the spokesperson added.
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