X5 Retail Group N.V. (LSE:FIVE) will look for M&A. Igor Shekhterman, Chief Executive Officer said, "In 2023, we continued to expand into existing and new regions of presence through strategic M&As. In April, X5 acquired Tamerlan, the operator of several discounter chains and a supermarket chain in Southern Russia. And in August, X5 acquired the retail operator Victoria Baltia, which has enabled X5 to gain a foothold in the highly promising Kaliningrad Region.

In parallel with organic growth, X5 will continue to pursue opportunities for business expansion through M&A as well as strategic partnerships on the domestic market".