X5, the largest grocer in Russia, is considering expanding in Ukraine.

Group chief executive Lev Khasis said X5 is looking at a “big” merger, which would lead to the issue of new shares. He said the initiative in the country is a “theoretical opportunity” and the retailer has not made any definite plans yet.

X5 operates a handful of Perekrestok stores in Ukraine. It closed its Pyaterochka stores in the country in 2007.