FILE PHOTO: A man walks past a discount shop Chizhik, launched by X5 Retail Group, in Moscow, Russia October 29, 2020.
REUTERS/Alexander MarrowMOSCOW (Reuters) - Russia’s largest food retailer X5 has created a separate entity for its digital businesses, the company said on Thursday, paving the way for the new entity to go public.
“The company is considering several promising options for further development, including both attracting investors on the open capital market, investments through strategic partnerships, and independent development within X5,” the company said in a statement.
The digital businesses include online shop Perekrestok Vprok (Perekrestok.ru), the express delivery service for X5’s Pyaterochka and Perekrestok stores, and Okolo, a delivery service it launched last year.
X5 said it planned to provide more details on strategic options for its digital business development within a year.
Alexander Marrow MOSCOW, “
X5 Retail, REUTERS