Rostelecom Mulls Retailer

By The Moscow Times

Dec. 8, 2011

Rostelecom will consider buying a stake in one of the top mobile phone retailers, either Yevroset or Svyaznoy, the company's chief executive said Thursday.

"We have some offers from investment banks to review the possibility of buying a stake in Yevroset and in Svyaznoy, and we are planning to evaluate this option," Alexander Provotorov said during a conference call with analysts.

According to sources familiar with the situation, Yevroset co-owner Alexander Mamut has been looking to sell his 50.1 percent stake, while businessman Maxim Nogotkov has said he could sell part of his 88 percent stake in Svyaznoy.

Provotorov added that Rostelecom also planned to outsource the management of 80 percent of its 2,500-strong retail network to a partner to boost its efficiency.

(Reuters)

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