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Wal-Mart Abandons Efforts To Enter Russian Market

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Wal-Mart Abandons Efforts To Enter Russian Market

Wal-Mart Abandons Efforts To Enter Russian Market

Wal-Mart Abandons Efforts To Enter Russian Market

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  • <iframe src="https://www.npr.org/player/embed/132046158/132046146" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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Wal-Mart has canceled its plans to expand into the Russian market. The giant U.S. retailer said Monday it had decided to close its office in Moscow, because of the lack of opportunity to acquire Russian retailers.

STEVE INSKEEP, Host:

From Moscow, Peter Van Dyk reports.

PETER VAN DYK: Natalya Zagvozdina is an analyst with Renaissance Capital Investment Bank. She says the global financial crisis meant some good deals were on offer, but Wal- Mart failed to take advantage.

NATALYA ZAGVOZDINA: I really am puzzled with this move to be present on the ground for many years, and during the crisis, looking at a number of acquisitions and not making one. In my opinion, they've lost a few years of good growth, but I'm positive they will return.

VAN DYK: For NPR News, I'm Peter Van Dyk, in Moscow.

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