METRO AG (DB:MEO) does not currently have plans for an initial public offering (IPO) for its Russian business, since the division of the company is a bigger process, as a result of which the Russian division will become independent and flexible, as was planned when the retailer intended to list on an exchange, Olaf Koch, Chief Executive Officer of METRO told Interfax. At Metro's shareholder meeting in February 2016, Koch said that the company had abandoned the idea of an IPO for the Russian business, since it did not make sense in the current conditions.