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VimpelCom and MegaFon have agreed on the terms of the transaction according to the “Euroset” in which both companies own a 50 percent share, has learned to “Vedomosti”. “MegaFon” will buy 50% of retailer, the brand “Euroset” will continue
The owners of “Euroset” have agreed about the scheme of its section, the newspaper “Vedomosti”, citing its sources. MegaFon confirmed the sources, will buy from VimpelCom for 50% of the company and will bring its stake to 100%. Thus “Vympelcom” will receive two thousand salons of “Euroset” from the existing 4200. In addition, the company will pay “the Megaphone” about 1 billion rubles in debt “Euroset”
According to one source, the deal will amount to RUB 1.2 billion.
One of the conditions of the transaction is the preservation of management of Euroset, said one of the interlocutors, reducing network staff will not, the company will retain its autonomy from the “MegaFon”. The deal, the source added, should be completed by early 2018.
As said by one of the newspaper’s sources, the total debt of “Euroset” at the present time is about 9 billion rubles.
That “VympelCom” has offered “to the Megaphone” to divide “Euroset” in which each company owns a 50% stake, Vedomosti wrote in November 2016. The reason for the division of Euroset was then called the different sources of income: basic earnings network provides trade phones, while operators are counting on the sale of contracts with subscribers.
It was about the elimination of the brand “Euroset” after the transaction. However, the President “Euroset” Alexander Malis said that the information about the liquidation of the company is not true. “I can say that “statements” can also cease to exist next year, and planet Earth may cease to exist next year. We are working and going to work, despite the nonsense that we read today in the media,” said Malis.
More information on the RBC: “VympelCom” has bought a 49.9% of Euroset for $226 million in 2008 to Alexander Mamut, and that 100% of the founder, Yevgeny Chichvarkin. In December 2012, Mamut sold the rest for $1.07 billion: 0.1 percent bought “VympelCom” 25% — “Megaphone” and Alisher Usmanov’s Garsdale with partners. Share Garsdale moved “to the Megaphone” in July 2014.