Oh I just heard some terrible news that is enough to make someone scream. I could actually have to protest this kinda news in Russia. This is that serious of a mistake, that should not happen…
The world’s largest retail group Walmart is likely to buy the Russian “Karusel” super market network for $1.99 bln – the most problematic asset of the X5 retail group. As The Business Petersburg newspaper wrote on Wednesday, the purchase of Karusel may be announced in two or three weeks after X5’s supervisory board due on February 16. Several unnamed top-managers from X5 spoke about the future deal. “I expect that the deal will be announced in 2-3 weeks,” one of the top-managers told The Business Petersburg. A second top manager said that “the deal was not signed yet, but is expected…
All I can say is that if this is true then it would be as big of a mistake as it was to bring in McDonald’s. We have very good hypermarkets in Russia and Karusel is a wonderful store to shop in, but is struggling and Walmart has to find a foot in the door, so to speak…
I hope that Russia has better sense than to let Walmart into this country. It is time for positive thinking…
No Walmart! No Walmart! No Walmart…
Kyle
Windows to Russia!
PS: It is in our neighborhood, we have a Karusel not far from us…