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Russian property developer poised to bring Wal-Mart to Russia
RBC, 03.07.2007, Moscow 10:06:51.The Russian property development company Macromir, which is being fostered by Andrei Rogachev, a founder of the Pyaterochka retail chain and shareholder of X5 Retail Group, intends to bring the global retail leader Wal-Mart to Russia. Macromir reported on Monday that it has been in partnership talks with the US-based retailer since May. If the companies reach an agreement, then either Wal-Mart will lease facilities in shopping complexes, which Macromir has already started building, or the Russian company will do construction especially for Wal-Mart. Market participants, however, doubt that Wal-Mart has already made a final decision to enter the Russian market, because otherwise the chain would be holding talks with several companies at the same time, the RBC Daily newspaper wrote today. A source close to the negotiations explained that the discussion is about Wal-Mart arriving on the Russian market in the hypermarket format, which means that the stores will have an area of around 20,000 square meters.
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