No Deal Over Retail Chain Acquisition Just Yet

International Chief Doug McMillon said in an interview: “One of the things that has been a hindrance in Russia is just an agreement on price”. Retail giant Wal-Mart has made attempts to buy out retail chains instead of opening its own shops.

“Buying a retail chain would give Wal-Mart a faster presence than opening stores on its own”, McMillon said.

“It’s premature to say that we’ve made a decision, one way or the other,” on an acquisition or building stores, Mitch Slape said. “ Mitch Slape is the senior vice president of international business development.

Wal-Mart has grown to 30 employees in Moscow since 2008.  Wal-Mart is prepared to spend $5 billion on capital expenditures in Russia.

For more details please visit:  The St. Petersburg Times.