Retailer Magnit could invest $1 bln, open 500 stores in 2010
MOSCOW. Dec 9 (Interfax) - Retailer Magnit could invest a record $1 billion in its network and open around 500 new outlets in 2010, Sergei Galitsky, its general director, said during a conference call.
Galitsky said Magnit might open 25-30 hypermarkets and 450-500 local grocery stores.
Magnit would invest funds raised during its recent SPO.