Wal-Mart Expresses Interest In Russian Retailer (WMT, CS)

Wal-Mart Inc. WMT is in talks with Russian retailer Lenta about a possible acquisition. The U.S. retail giant has been trying to enter the buoyant Russian market. Reuters has quoted a source as saying, “It is fair to say that at this point there has been some information exchanges and some discussions but the talks are still pretty informal.” Lenta was founded in 1993 in St. Petersburg. Currently, the Russian company runs 36 stores. Wal-Mart (WMT) is reportedly looking to buy the entire company. Both the companies declined to comment. Wal-Mart has enlisted Credit Suisse CS for advising it in Russia. Reuters is reporting that the companies' respective management teams have not yet met.