Carrefour To Quit Russia

French mass grocery retail (MGR) behemoth Carrefour has announced that it will exit Russia just months after launching its first store in the country's once thriving retail industry. A late entrant, Russia was thought to be a key long-term market for Carrefour. However, ongoing economic weakness has made asset prices particularly difficult to value, which has frustrated Carrefour's pursuit of acquisitions.

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