In February, Carrefour made Sedmoi Kontinent, a Russian retailer, a nonbinding offer, according to sources. The French retailer has valued Sedmoi at $1.25 billion, they say. If Carrefour acquires Sedmoi, it will become the first foreign company to enter the retail market in Russia since the credit crunch hit the country.

Full Story:
Moscow Times, The

Related Summaries