PRESS: MegaFon sells minority stake in retailer Svyaznoy

MOSCOW, Dec 5 (PRIME) -- Russian mobile operator MegaFon has sold its minority stake in mobile electronics retailer Svyaznoy, which is on the brink of bankruptcy, RBC Daily reported on Monday quoting the operator’s General Director Khachatur Pombukhchan.

Pombukhchan did not name the buyer or disclose any details of the deal.

“All I can say is that we are no longer shareholders of Svyaznoy, and our decision has nothing to do with activities or effectiveness of Svyaznoy,” he added.

MegaFon is happy about the deal, he added. The operator has actively advanced in development of its own retail chain that fully meets the interests of the company in the telecommunications sphere.

“MegaFon keeps commercial and partner contracts with the retailer,” Pombukhchan also said.

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