April 30, 2019 / 8:14 AM / 19 days ago

Russian retailer Magnit says not planning major deals

MOSCOW, April 30 (Reuters) - Russia’s second-biggest food retailer Magnit is not considering any major deals at the moment, a company official told reporters on Tuesday when asked if Magnit planned to pursue an acquisition of a smaller rival Lenta.

Magnit this month made a $1.78 billion non-binding and indicative proposal to buy Lenta, in an attempt to top an offer from Russian steel magnate Alexey Mordashov. (Reporting by Olga Popova; writing by Anton Kolodyazhnyy; editing by Jason Neely)

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