29 Nov 2010 10:40

X5 to decide on Kopeika bid in coming weeks

MOSCOW. Nov 29 (Interfax) - X5 Retail Group will decide in the coming weeks whether or not to proceed with the takeover of the Kopeika discount chain, X5's chief, Lev Khasis, said in a conference call on Friday.

"I can confirm that we are in negotiations with the owner of that network, but this is a very lengthy process. We will in the coming weeks either announce we have signed a contract with Kopeika or that we intend to go forward without that acquisition," Khasis said.