X5 still eyeing Ukraine
11 March 2010
X5 Retail Group is considering re-entering the Ukrainian retail market “The Ukrainian market is far less attractive than the Russian one because of population's lower incomes. If we expand in Ukraine, then only through M&A deals," X5 CEO Lev Khasis said. He said that only Ukrainian market leaders are being considered for possible targets, still no agreements with particular companies have been reached. The retailer reported about a possible M&A of an unnamed retailer in June 2009, but no deal has been completed. X5 Retail Group was expanding its franchised Pyaterochka concept in Ukraine from 2005 to 2007. Separately it launched four Perekrestok supermarkets in 2006, but since then the network has not been developed.