MegaFon to split Euroset with rival operator

According to Reuters, MegaFon has announced plans to acquire 25 per cent of Russia’s largest mobile phone retailer Euroset for up to USD 590 million from oligarch Alexander Mamut, while core MegaFon shareholder Garsdale (owned by Alisher Usmanov) plans to buy a further 25 per cent from Mamut. At some point in the future Garsdale will sell the interest to MegaFon.

As a result the retailer will be owned by two of Russia’s largest mobile operators – VimpelCom owns 50 percent in Euroset.

It is unclear how this arrangement might affect the situation on the Russian mobile retail market, and also whether the Federal Antimonopoly Service might intervene on behalf of other mobile operators  relating to the impact on the mobile phone sector.

 

 

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