McDonald's Lovin' Russia

McDonald's plans on opening new locations in Russia, and shares in the fast-food company rise in Monday trading.
By Jeanine Poggi ,

NEW YORK (

TheStreet

) --

McDonald's

(MCD) - Get Report

is expanding its presence in Russia with 45 new locations, the fast-food chain announced today.

The move will grow McDonald's portfolio in the country to 290 stores.

The news comes after rival

Burger King

(BKC)

announced plans to open its first location in Russia. Burger King launched its first outlet in Russia in January. The company plans to open two more stores by April.

Russia isn't the only country that fast-food chains are targeting. Last week reports surfaced that

McDonald's plans to boost its capital investment in China by 25%

during the year, Reuters reported. This would result in anywhere from 150 to 165 new locations in the country.

Shares in McDonald's were up by 2.1% to $63.76 in Monday afternoon trading.

-- Reported by Jeanine Poggi in New York.

RELATED STORIES:

>>McDonald's Plans Big Growth in China

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.

Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Loading ...