Date: 6 months ago   Category: Business climate

FAS has allowed MegaFon to buy a half of Euroset


The Federal Antimonopoly Service (FAS) has satisfied the petition of the Cyprian company Lebford Investments for acquisition 50 percent of shares of management company of Euroset — Euroset Retail. It is said in materials on the regulator website. As notes RIA Novosti, Lebford Investments belongs to MegaFon and its parent company Garsdale. Transaction details aren't given in the message of FAS. In July MegaFon declared that it plans to redeem 50 percent of Euroset from VimpelCom, having brought the share to 100 percent. In turn VimpelCom will buy about a half of four thousand retail salons of network for 1,25 billion rubles. Euroset will remain in the market as operating company. It was noted that the contract with MegaFon will lead to strengthening of monobranded strategy of VimpelCom, having allowed the company more than to twice expand the retail network in Russia. At the same time now she has more than 1,5 thousand own salons. Euroset — large network of cellular shops, the retailer of electronics. Since December, 2012 it is on a parity basis controlled by VimpelCom and MegaFon (on 25 percent belongs to MegaFon and its "parent" company Garsdale).

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