Russian antimonopoly agency allows MegaFon to acquire largest mobile phone retailer
MOSCOW, August 14 (RAPSI) – The Federal Antimonopoly Service (FAS) has granted a motion filed by alleged subsidiary of one of Russia’s largest mobile operators MegaFon to acquire Euroset-Retail, managing company of the country’s largest mobile phone retailer Euroset, the watchdog announced in its Telegram channel on Monday.
Reportedly, Lebford Investments, a company registered in Cyprus, belongs to MegaFon and Russian telecommunication corporation Garsdale Services Investment Ltd.
In mid-July, it was reported that Megafon plans to buy 50% of Euroset’s shares from VimpelCom telecommunication corporation and to bring up its stake to 100% in the process. In accordance with the deal, VimpelCom acquires half of Euroset’s retail stores for 1.25 billion rubles (nearly $21 million). Later today FAS approved the latter deal as well.