London Tesco plans to open stores in Russia, according to a Bloomberg report. Tesco is looking for ways to enter the market and is studying possible store sites, the report said.
A Tesco spokeswoman, however, said the company doesn't comment on “rumors and speculation.”
According to an analyst cited in the report, Tesco is taking its time to enter Russia because “the population is concentrated in cities that are very spread apart, and that is particularly difficult for a food retailer in terms of distribution.”
The company has considered entering Russia since at least 2005, the report said.