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.