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Russian giant eyes Metro

This article was originally published in Foodnews

RUSSIA'S leading grocer, X5 Retail Group, is believed to be interested in acquiring some of German retailer Metro Group's assets, according to a recent Reuters report. The report cited unnamed sources as saying that X5 was looking to buy Metro's Cash & Carry and Real hypermarkets in Russia and Eastern Europe. The sources also said that X5 was interested in picking up a 10% stake in the Metro Group itself, and could buy out co-founder Otto Beisheim. However, both Metro and X5 insisted that they have not been in contact, and the German group said it has no plans to sell off its units. Metro also said it is not in any talks about a possible sale of a stake.



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