With Russia’s largest supermarket operator X5 denying reports yesterday (29 January) that it is considering a takeover bid from an international retailer but confirming that it could be in talks regarding possible cooperation, the UK’s Tesco has fuelled rumours that it is eyeing the Russian market.
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While the UK’s largest retailer told just-food that it does not comment on such market speculation, Tesco declined to rule out the possibility of a future move into the burgeoning Russian retail sector.
Russian reports have linked X5, which operates the Pyaterochka and Perekriostok chains, with Tesco, France’s Carrefour and the US’s Wal-Mart.
“The company and its major shareholders do not intend to sell its business in a medium-term perspective and are focused on the realisation of a five-year strategy of the group’s development on the Russian market,” Lev Khasis, X5’s chief executive, said in a statement. “We do not exclude, however, potential partnerships with these chains in various areas of mutual interest.”
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