(Source: Financial Post)
Reports out of Russia suggest Wal-Mart Stores Inc. may be in negotiations to buy a controlling stake in one of the countries leading “hypermarket” big box retailers. An article in the Kommersant newspaper said the ownership stake in Lenta could approach 51%. This follows similar reports in July 2008.
The move would be in keeping with Wal-Mart’s recent international history as the majority of its expansion outside the U.S. has been through initial partial ownership stakes rather than green-field development, according to UBS analyst Neil Currie.
Read Jonathan Ratner’s full article “Wal-Mart may be moving into Russia” in the Financial Post (April 8, 2009).