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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.
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