Support The Moscow Times!

MegaFon Deal Delayed

The Federal Anti-Monopoly Service said it may take another two months to review mobile operator MegaFon's deal to acquire a stake in Yevroset, the country's leading cell-phone retailer.

The extension is not likely to further delay MegaFon's planned stock market listing in London and Moscow, set to raise up to $2 billion, three sources familiar with the situation said Wednesday.

Anatoly Golomolzin, deputy head of the watchdog, told reporters that the agency needed more time to assess all circumstances of the proposed MegaFon-Yevroset deal. "It will take a maximum of two months or less," he said.

MegaFon declined to comment. It had been expected to begin marketing the IPO this week but said Monday that it decided to wait until after the announcement of third-quarter results, which is expected in early November.


Related articles:

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.