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.

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:

… 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.

paiment methods
Not ready to support today?
Remind me later.

Read more