Russian antitrust says Euroset’s probable split needs consultations

ST.PETERSBURG, May 20 (PRIME) -- A probable division of Russian big handset retailer Euroset by its shareholders, mobile operators MegaFon and VimpelCom, will at least require consultations with the Federal Antimonopoly Service, the authority’s Director Igor Artemyev told reporters Friday.

“I think consultations will be necessary as a minimum, although Euroset does not dominate (the market), but as its owners are the two companies on the adjacent markets, related to sales of phones and SIM cards, (the deal) could cause restriction of competition here,” Artemyev said.

“We will attentively follow the situation, because competition is threatened not only in case of mergers, but eliminations as well; it’s a serious story for us.”

Media earlier reported, citing several sources, that MegaFon and VimpelCom are discussing a split of Euroset, which they own on a parity basis. The operators were said willing to equally divide Euroset’s stores and merge them with their own monobrand chains, while the Euroset brand could cease to exist.

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