Walmart closes its Moscow office, even if it says it's still interested in the Russian market.
The Us retail giant no longer wants to build its Russian operation-- following nothing coming out of a potential merger with several Russian grocery chains.
Walmart was to enter the Russian market through acquisition, not greenfield development.
Analysts believe Walmart is still sizing up Russian partners as it emphasises on international growth.
Meanwhile it expands its overseas operations in Brazil, China, India and South Africa.
Walmart is not the first retailer to find entering the Russian market a challenge-- Carrefour SA pulled out of Russia after a short while in 2009.
Germany's Metro Group, France's Groupe Auchan and Ikea still continue their operations in the country.