Russian telecoms operators Rostelecom and MegaFon are in talks to make a joint bid for businessman Alexander Mamut’s majority stake in local mobile retailer Euroset, local newspaper Kommersant reported.
Citing an investment banker and unnamed…
Russian telecoms operators Rostelecom and MegaFon are in talks to make a joint bid for businessman Alexander Mamut’s majority stake in local mobile retailer Euroset, local newspaper Kommersant reported.
Citing an investment banker and unnamed sources close to the companies’ shareholders, the report said that Rostelecom and Megafon intend to pay Mamut in cash and shares for his 50.1% stake, said to have an estimated value of US$1.5bn.
The potential deal would see Mamut acquire 100% of MegaFon shareholder Alisher Usmanov’s internet holding company SUP, the report added.
The sale may be completed within two to three months.
As previously reported, Russian telecoms operator VimpelCom, which has a 49.9% stake in Euroset, passed on an option to boost its share to 74.85% in December 2011.
Rostelecom declined to comment and MegaFon was not immediately available.
