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).

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.