17 Dec 2012 14:07

Retail chains might be allowed to surpass 25% threshold if building new floor space - Shuvalov

MOSCOW. Dec 17 (Interfax) - Retail chains might be permitted to surpass the 25% threshold on their share of sales in the Russian federal subjects if they are building new floor space or acquiring or renting premises to convert them into stores, Russian First Deputy Prime Minister Igor Shuvalov told journalists.

"We think - but this is still a proposal - that if retail chains build new floor space by either acquiring on the market or renting what was previously not retail space, then for them the 25% threshold won't be in effect," he said.

According to the law on trade, retail chains cannot acquire new floor space in a region if their share of overall retail sales in that region has reached 25%.