Wal-Mart Stores Inc. is interested in moving into Russia after strong growth in that giant country's retail spending, the world's largest retailer said Monday.
Wal-Mart's international division is smaller but is growing faster than the company's flagship U.S. business. Russia would mark another move into large but underdeveloped markets like Latin America and China, where it is already established, and India, where Wal-Mart plans to open stores with a local partner company.
Angela Hofmann, a spokeswoman for Wal-Mart International, said Wal-Mart has been watching the Russian retail market for several years and likes what it sees.
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