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MegaFon may get minor stake in SvyaznoyEuroset possible merger

Evroset02MOSCOW, Mar 27 (PRIME) -- Russias MegaFon, one of the countrys biggest mobile operators, is discussing a merger between its retailer Euroset andSvyazvoy with Oleg Malis SLV tobecome a minority owner of themerged firm, a MegaFon spokesperson said late on Monday.

The Federal Antimonopoly Service said that MegaFon had askedfor permission to acquireSvyaznoy via its unit, Lefbord Investments Ltd., through which the mobile operator owns Euroset.

Lefbord Investments Ltd. asks the antimonopoly service for permission to acquire Svyaznoy Logistics and Mobile Telecommunications Service.

The authority prolonged consideration of the application until May 21 due tothe need to receive additional information.

"Were consideringvarious options of further development of Euroset. Since the application does not oblige us to sign a deal, and the process of consideration could be lengthy, we've filed documents to the Federal Antimonopoly Service in advance, a MegaFon spokesperson said.

The operator closed the deal on the split-up of Euroset with itspeer VimpelCom inFebruary. After holding the retailer on a parity basis, MegaFon consolidated 100% of Euroset, while VimpelCom agreed to pay 1.25 billion rubles and get about 1,800 stores, or half of the retailers chain.

(57.0039 rubles U.S. $1)

End

27.03.2018 09:57
 
 
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