5 Retail Group: We Wont Sell Karusel to Wal-Mart

5 Retail Group is not planning to sell its Karusel supermarket chain to Wal-Mart, Interfax reports. The companys analysts sent out a letter that states the retailer is not negotiating for the sale of the chain.

In fact, the companys CEO Andrei Gusev also informed Interfax earlier that the X5 had no intention of selling Karusel and was actually planning on developing the chain further in order to make the business even more efficient.

The Group runs three Karusel stores in Yekaterinburg: in Park House, ComsoMALL, and Alatyr shopping malls.

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