Russian retailer Magnit makes $1.8b bid for smaller rival Lenta

Russian retailer Magnit makes $1.8b bid for smaller rival Lenta

Photo: Pixabay

Russian grocery chain Magnit has made a $1.78 billion non-binding and indicative proposal to smaller competitor Lenta, topping a rival offer from Russian steel magnate Alexey Mordashov, Lenta said on Friday.

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