Wal-Mart actively seeking Russian expansion

According to Kommersant, Wal-Mart made a preliminary offer to Kopeika in June. Kopeika is partly owned by its creditor Uralsib bank and will make a decision in August. Wal-Mart is not the first retailer Kopeika was dealing with, X5 Retail Group tried to negotiate a deal at the end of 2008 and it was in discussions with Magnit in January 2009. Kopeika operates a network of around 500 supermarkets in Moscow and the Moscow region, where it competes with around 400 X5 Retail Group Pyaterochka stores and Dixy Group's outlets. Wal-Mart is actively seeking a partner in Russia. It was in negotiations with St Petersburg based hypermarket operator Lenta in 2008, but no deal was reached.