×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Regulator to Allow M.Video Merger with Eldorado

The Federal Antimonopoly Service (FAS) will allow Russia's biggest home electronics retailer, M.Video, to acquire its closest competitor, Eldorado, subject to the combined company selling some assets.

M.Video, which had discussed a merger with Eldorado in 2011, in April requested permission from FAS to acquire 100 percent of Eldorado, according to a report in financial daily Kommersant at the time.

The combined company should sell assets to reduce its market share to 35 percent in each region in which it operates, a representative of the regulator said Thursday.

M.Video generated 158 billion rubles ($5 billion) in revenue last year, up 20 percent on the year. Eldorado had sales of 112 billion rubles, up 15 percent.

As of April 2013, M.Video had 305 stores. Eldorado had 404 stores at the end last year.

A merger would create an even stronger competitor for Media-Saturn, part of German retailer Metro, which entered the market in 2006 and has 45 Russian stores.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more