Walmart Revives Buyout Talks for Russian Supermarket Chain Kopeika
by
Oct 15th 2010 8:25AM
Updated Oct 15th 2010 8:44AM
Walmart (WMT) has renewed its efforts to purchase Russian supermarket chain Kopeika, following reports that competing Russian grocer X5's interest in acquiring it has waned, according to a Reuters article.Walmart's interest in resuming buyout talks with Kopeika comes amid a shift in focus that has the world's largest retailer reportedly placing greater emphasis on expanding globally, and at a time when it faces greater opposition from rivals over its efforts to expand domestically. Walmart International plans to add 21 million square feet of new store space this year and another 23 million to 24 million next year, the company announced earlier this week as part of its growth strategy forecast.
While Walmart would like to gain a foothold in the Russian market, the company noted this week it particularly wants to focus on such emerging economies as China, Brazil and Mexico.