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.
Go deeper with GlobalData
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.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
