UK markets closed
  • NIKKEI 225

    28,942.14
    -280.63 (-0.96%)
     
  • HANG SENG

    19,763.91
    -158.54 (-0.80%)
     
  • CRUDE OIL

    90.68
    +2.57 (+2.92%)
     
  • GOLD FUTURES

    1,772.80
    -3.90 (-0.22%)
     
  • DOW

    33,912.65
    -67.67 (-0.20%)
     
  • BTC-GBP

    19,532.55
    -265.54 (-1.34%)
     
  • CMC Crypto 200

    556.15
    -1.58 (-0.28%)
     
  • ^IXIC

    12,957.52
    +19.40 (+0.15%)
     
  • ^FTAS

    4,162.11
    +15.62 (+0.38%)
     

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

FILE PHOTO: The H&M clothing store n Times Square in Manhattan, New York

MOSCOW (Reuters) - 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)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting