Reuters
MOSCOW (Reuters) -Russian consumer electronics retailer M.Video-Eldorado said on Friday it would spend an extra $350 million on store openings, expanding into new cities and growing online sales in the first half of 2025 as it implements its three-year strategy. Sanctioned state-owned defence sector lender Promsvyazbank is in talks to buy M.Video, the Kommersant and Vedomosti newspapers reported in January, citing sources who said a sale could help M.Video solve growing debt problems and draw a major listed company closer to the Russian state. Felix Lib, general director of M.Video-Eldorado Group, said the company would undergo changes at all levels of corporate governance, in the board of directors and top management.