Walmart considers partners in Russia
Walmart has talked with several potential partners in Russia, but continues to seek the best way to enter the country, the retailer’s international chief said. Walmart executives have entered tentative price negotiations several times since setting up offices in Moscow. "We've been there with several different opportunities over more than a year. They come and go," said Doug McMillon, Walmart International's President and Chief Executive. In May, sources said the company was in preliminary talks to acquire Russian retailer Lenta.
"We did make a decision, particularly when the economic downturn occurred, that an acquisition is probably the best way to enter the market. To make an acquisition, a buyer and seller have to come together on terms," McMillon said. "We'll make a decision when it's the right time and we have the right entry opportunity and not before then."
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