Support The Moscow Times!
Contribute today

Metro Mulls Float of 25% of Russia Unit

By The Moscow Times

Europe's fourth-biggest retailer, Metro, is considering floating a 25 percent stake in its Cash & Carry Russia unit in the spring, three sources familiar with the deal said on Wednesday.

The initial public offering could value the unit at no less than 4 billion euros ($5.4 billion), one of the sources said.

It will be competing for investors' attention with local rival Lenta, which is also planning to float in London early next year. Lenta is controlled by state bank VTB and private equity fund TPG.

The Metro listing would take place in London, with a secondary listing possibly in Moscow, another of the sources said. The sources said the listing could take place in the spring or the second quarter of 2014.

Metro declined to comment.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more

banned from blessings

Russian Priest Suspended After Navalny Memorial Service

Priest Dmitry Safronov performed a memorial service at Navalny’s gravesite in Moscow on March 26, 40 days after the Kremlin critic died in an Arctic...
1 Min read
high-profile case

Russian Deputy Defense Minister Held in Custody on Bribery Accusations

The arrest of Timur Ivanov, a longtime ally of Defense Minister Sergei Shoigu, is the most dramatic corruption case in Russia in recent years.
2 Min read
oil refineries

Ukraine Attack Drones Strike Russia Energy Sites

Footage published on social media showed an oil refinery in the western Smolensk region in flames.
2 Min read
'duties to the homeland'

Ukraine Pushes Military-Aged Men To Return Home

The move would likely oblige Ukrainian men to return from abroad to undergo administrative procedures that were previously available abroad.
2 Min read