Russian antitrust delays study of Safmar deal to buy M.Video

MOSCOW, Dec 28 (PRIME) -- The Federal Antimonopoly Service has prolonged consideration of a request of financial group Safmar to buy one of Russia’s largest electronic goods and household appliances retailer M.Video for two months, the service’s Deputy Director Andrei Kashevarov told PRIME on Wednesday.

“We are prolonging consideration of the request as we are doing a market analysis and a thorough check of the online trade segment. Everything will depend on how fast we receive objective data of the analysis. The deadline for consideration of the request has formally been prolonged for two months,” he said.

On December 14, M.Video said that Safmar will buy 100% in an investment company, which holds 57.7% in M.Video, from the retailer’s founders Alexander and Mikhail Tynkovan and Pavel Breyev. The company said that the price of its shares under the deal will amount to U.S. $7 apiece, and Safmar plans to spend a total of $726 million on the deal. Tynkovan said then that the purchase may be closed in April–June 2017.

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