NEW YORK (Reuters) – Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research), the world’s biggest retailer, could expand its reach into Russia in within the next 24 months, according to a research note from UBS.
“We believe expansion into Russia rounds out Wal-Mart’s ‘BRIC’ (Brazil, Russia, India and China) exposure,” UBS analyst Neil Currie wrote in a note on Thursday.
Currie said he expected Wal-Mart to make the leap into Russia within the next 12 to 24 months, probably by taking a minority stake in a local retail chain.
This is not a good thing for Russia!
Kyle & Svet
comments always welcome.