X5 Drops on Seventh Continent Acquisition Report: Moscow Mover - Bloomberg:
"X5 Retail Group NV, the food retailer owned by Russian billionaire Mikhail Fridman, fell in London trading after a report that it may acquire Moscow-based competitor Seventh Continent.
The shares fell as much as 3.1 percent and were down 2 percent at $16.38 per depositary receipt as of 11:42 a.m.
Seventh Continent owner Alexander Zanadvorov is seeking at least $2.4 billion for the chain, which had sales of about $2 billion last year, Kommersant reported."
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