×
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.

Merger Between Electronics Retailers Unravels

Home electronics retailer M.Video said Wednesday that it would not go ahead with a proposed acquisition of closest rival Eldorado because they could not agree on terms.

The company also cited requirements imposed by the Federal Anti-Monopoly Service for the deal to go ahead, said Anton Panteleyev, M.Video's spokesman.

"The talks between M.Video and [investment] fund PPF about a possible acquisition of 100 percent of Eldorado have been suspended due to a failure in reaching consensus on terms and the antitrust watchdog's injunctions," Panteleyev said.

M.Video had discussed a merger with Eldorado, owned by Czech magnate Petr Kellner's investment group PPF, in 2011 but the deal never materialized.

It revived the plan at the beginning of this year and received an anti-monopoly approval to go ahead, subject to the combined company selling some 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