H&M to sell Russian business to local or foreign company – ministry

Reuters

MOSCOW – H&M, the world’s second-biggest fashion retailer, has decided to sell its assets in Russia, the Russian Ministry of Industry and Trade said on Thursday.

The potential buyer could be a Russian company or an entity from a “friendly” country – one of those that have not imposed sanctions against Russia, the ministry added.

H&M said earlier this month it had decided to initiate a process of winding down its business in Russia.

(Reporting by Reuters)

tagreuters.com2022binary_LYNXMPEI6R0EY-BASEIMAGE


You appear to be using an ad blocker

Shore News Network is a free website that does not use paywalls or charge for access to original, breaking news content. In order to provide this free service, we rely on advertisements. Please support our journalism by disabling your ad blocker for this website.