London
21 °C
Manchester
17 °C
Glasgow
14 °C
Dublin
19 °C
Belfast
Washington
Denver
Atlanta
Dallas
Houston Texas
New Orleans
El Paso
Phoenix
Los Angeles
25 °C
31 °C
25 °C
13 °C
28 °C
Auchan's Russia unit dismisses sale rumours / Photo: © AFP/File
Auchan's Russia unit dismisses sale rumours
The Russian subsidiary of French supermarket chain Auchan quashed rumours of an impending sale on Monday, saying it continued to operate for the benefit of the local population.
Although operation of the chain's 230 stores in Russia was transferred to local management in 2023, Auchan is one of the few French firms to remain in the country.
"Rumours of a sale of Auchan Russia and its leaving the Russian market have recently multiplied and we have repeatedly denied them," the subsidiary said in a statement sent to AFP.
"Our response is always the same: we don't comment on market rumours and we are continuing to work for the good of the country's population."
French business journal La Lettre reported on Monday that Auchan had rejected an offer.
The journal had reported in late October that negotiations were underway with a local buyer for the Russian stores, which employ some 30,000 people.
Many Western companies have quit the Russian market since Moscow launched in February 2022 invasion of Ukraine, but some have found it difficult to sell their operations.
The continued operation of Auchan and hardware chain Leroy Merlin, both of which are owned by France's Mulliez family, has drawn the ire of many Ukrainians, including President Volodymyr Zelensky.
Auchan Russia's latest information on its results date to the first half of 2024, when it reported a drop in sales volume but an increase in revenue due to strong inflation in the country.
H. Müller--BTZ
