27 February 201811:33
MegaFon Buys 50% Stake in Euroset
UrBC, Yekaterinburg, February 27, 2018. MegaFon and Veon Ltd finalized settling their respective rights to Euroset, the Russian company’s press service reports. The two parties agreed to stop doing business together at Euroset in July 2017. ‘Following a series of transactions, MegaFon purchased a 50% stake in Euroset from VEON’s Russian subsidiary VympelKom (all assets and liabilities included), which means MegaFon now has 100% ownership of the business. VympelKom, in its turn, purchased a half of Euroset’s retail outlets (around 1,800 stores altogether) and is also going to pay out RUR