Wal-Mart In Talks To Buy Russian Retail Chain
MOSCOW - Wal-Mart Stores Inc. is in talks with Russian ZAO Promyshlenno-Finansovaya Kompaniya BIN to buy a stake in its supermarket chain, daily Vedomosti reported today, quoting a source close to the Russian company.
Dow Jones newswire, which reported the news, said Wal-Mart Stores was unavailable for immediate comment.
Russia's PFK BIN plans to sell 75 percent of the retail chain, which has 31 supermarkets around Russia and a forecast turnover of $170 million in 2002, according to the report.
Dow Jones newswire, which reported the news, said Wal-Mart Stores was unavailable for immediate comment.
Russia's PFK BIN plans to sell 75 percent of the retail chain, which has 31 supermarkets around Russia and a forecast turnover of $170 million in 2002, according to the report.