24.07.2008 10:04
July 24. X5 Retail will file a claim at the Moscow Arbitration Court with a request to declare invalid the conditions set by the Federal Antimonopoly Service (FAS) while authorizing the deal to acquire Karusel hypermarket chain. The retailer believes that FAS's order is illegal and claims the service has broken the antimonopoly legislation. "X5 has fully performed its obligations pursuant to FAS requirements. In particular, the company has developed and filed to FAS the terms and conditions of the work with X5 product suppliers in Saint Petersburg. However, after performing a detailed analysis of the situation, the company has come to the conclusion that FAS's decision is unreasonable and does not correspond to current Russian legislation", the company said in its report.
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