Monday, January 12, 2009

"Wal-Mart Moves Closer to Russia

Read more at the Moscow Times
12 January 2009

Wal-Mart, the world's largest retailer, has registered a legal entity in Russia and joined a local retailers' organization, the latest in a series of moves indicating its interest in expanding into the country.

The company registered a subsidiary under the name WM Eastern Europe Holdings and joined the Russian Association of Retail Trade Companies, or AKORT, which includes the 28 largest commercial organizations in the country.

'Wal-Mart is working on the Russian market,' Ilya Belonovsky, the executive director of the 28-member industry group said Dec. 29. He declined to elaborate."

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