Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

MegaFon May Pay $1.3 Billion for 50% of Phone Retailer Euroset

Oct. 15 (Bloomberg) -- OAO MegaFon, Russia’s second-largest mobile operator, said it may spend as much as $1.33 billion to acquire as much as 50 percent of handset retailer Euroset Holding NV.

MegaFon agreed to buy 25 percent of Euroset’s shares and secured an option to buy another 25 percent from billionaire Alisher Usmanov as soon as one year from now, the operator said in a regulatory filing, citing a vote by its board of directors. The combined 50 percent stake is valued at $1.33 billion, the company said.

Euroset is Russia’s largest handset retailer. Its founder, Yevgeny Chichvarkin, fled to London in 2008 after a criminal investigation was opened against him and sold the company to billionaire Alexander Mamut and mobile operator VimpelCom Ltd.

In 2011, Euroset scrapped a planned London share sale. Mamut agreed to sell 50 percent of Euroset to MegaFon and Usmanov, Kommersant said last month. Usmanov will partly pay with his stake in Internet publisher SUP Media, the newspaper reported.

VimpelCom will continue to own about 50 percent of the retailer. Russian operators are avoiding buying controlling stakes in independent retailers because consolidating them in their balance sheets would dilute profit margins, said Konstantin Belov, an analyst at Moscow-based UralSib Capital.

To contact the reporter on this story: Ilya Khrennikov in Moscow at

To contact the editor responsible for this story: Kenneth Wong at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.