Support The Moscow Times!

Metro to Retain Majority Stake in Russian Cash & Carry Business After IPO

German retailer Metro will keep a majority stake in its Cash & Carry Russia business if it decides to proceed with an initial public offering, Chief Executive Olaf Koch said on Thursday.

Koch made the comments at a news conference after Metro reported results for the shortened 2013 business year.

Sources familiar with the deal said last month Metro could list up to a quarter of the business in London by the second quarter of 2014.

Koch also said Metro had seen the positive sales trend of the nine months to September continue in the current quarter, the most important for the retailer in the run-up to the busy Christmas trading period.

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.