RUSSIA: Kesko Denies Grocery Unit Sale

The Kesko Group has confirmed that it has studied plans to sell its Russian grocery operations, but has denied that the unit is up for sale, or that it has held any talks regarding the same. The Finnish group launched its grocery stores locally four years ago, and currently operates nine outlets.

Kesko made the comment following a report by the Delovoi Peterburg newspaper, which said the group had put the business up for sale. In its clarification, Kesko noted: “In a strategic examination, all possible alternatives are considered… But we continue to develop the business in accordance with our strategy”.

Earlier this year, the group said it would sell or shut down its sports goods business in Russia.