Wal-Mart eyes local partner for Russia-paper

MOSCOW, Feb 12 (Reuters) - Wal-Mart (WMT.N) is looking at the Russian market and its preferred entry route would be via a partnership with a leading local player, executives from the U.S. retail giant were quoted on Monday as saying.

Wal-Mart has circled the Russian market for years without striking, but executives visiting Moscow last week suggested it may be closer to making a move now as household incomes are rising thanks to the economic boom of the past eight years.

"Local retailers are experimenting with new formats and are growing rapidly. Consumers are getting richer. All this makes Russia very, very attractive to us," the Vedomosti daily quoted Wal-Mart Vice-President Mike Bratcher as telling a retail conference in Moscow.

"It is highly likely that Russian consumers will get a new freedom of choice," Bratcher added, according to the Russian translation of his remarks, without being drawn into specifics.

Media speculation has centred on a possible partnership deal between the country's leading food retailer, London-listed X5 (PJPq.L), which has ruled out a full-blown foreign takeover but has spoken to Wal-Mart, Tesco (TSCO.L) and Carrefour (CARR.PA).

Also in the frame as possible targets are food retailer Lenta, which is based in St Petersburg, and Turkish-controlled Ramstore.

Vedomosti also quoted Wal-Mart executives as saying the most successful expansion strategy has proven to be striking a partnership agreement with a local partner that knows the specifics of the market and its consumers, is a market leader and has a wide geographical reach.

No comment was immediately available from Wal-Mart.

((Reporting by Moscow newsroom; editing by Greg Mahlich; tel +7 495 775 1242)) Keywords: RUSSIA WALMART/

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