UPDATE: OBI denies decision to reopen Russian stores

(Rewrites story throughout)

BERLIN/MOSCOW, Mar 29 (PRIME) -- German construction materials retailer OBI denied reports about reopening of its Russian stores, the company said in a statement on Tuesday.

All 27 OBI stores will remain closed in the long run, the company said.

Earlier in the day, Maxim Suravegin, head of the company’s procurement department, said the company may reopen its stores in the week that starts on April 4.

OBI announced closure of stores and a full suspension of operations in Russia on March 17.

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