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Rostelecom and MegaFon ‘may buy’ Euroset
28 March 2012
Russian operators discuss joint bid for Alexander Mamut’s majority stake in mobile-phone retailer Euroset
Russian operators Rostelecom and MegaFon are discussing a joint bid for local businessman Alexander Mamut’s 50.1% stake — worth around $1.5 billion — in Russian mobile-phone retailer Euroset, according to local reports.
The parties are considering a cash and share agreement that would provide Mamut with 100% of SUP, an internet holding company owned by Alisher Usmanov, who also holds 31% stake in MegaFon, reported the Kommersant newspaper.
Mamut acquired 100% of Euroset (sometimes spelled Evroset) for $1.25 billion in 2008, but then sold a 49.9% stake to VimpelCom, the company that trades in Russia under the name Beeline. VimpelCom had an option to buy the rest of the stake but Jo Lunder, CEO of VimpelCom, told Global Telecoms Business earlier this year that the option had lapsed. Mamut has been looking to sell his remaining stake in Euroset since December 2011, said the report, citing unnamed sources. GTB
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