Auchan plans continued investment in Russia

Auchan's Managing Director Jean-Pierre Germanin has said that it has no plans to reduce investment in Russia in 2010 and plans to open six stores in total during the year. The company plans to open two in Moscow and one each in St Petersburg, Ufa, Kazan and Samara. The retailer is also looking to develop its financial services and is in talks with Sberbank and Bank Russian Standard regarding establishing a joint venture as well as credit facilities via Visa and MasterCard.