Russian unit of Metro adds banks for IPO-sources
MOSCOW, April 9
MOSCOW, April 9 (Reuters) - The Russian unit of German retailer Metro now has four banks working on its delayed initial public offering, with Morgan Stanley and Citibank working alongside Goldman Sachs and Sberbank, three financial sources said.
Metro has delayed the stock market listing of a quarter of its Russian cash-and-carry wholesale operation because of market turmoil. It had been expected to fetch at least 1 billion euros ($1.38 billion).
Citibank and Goldman Sachs declined comment. Morgan Stanley, Sberbank and Metro could not immediately be reached for comment.
(Reporting by Olga Popova, Writing by Megan Davies, Editing by Timothy Heritage)