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Article: MTS acquires retail chain in Russia.(MERGERS AND ACQUISITIONS)(Mobile TeleSystems OJSC)(Telefon.Ru)(Brief article)
- Article from:
- Russian Telecom
- Article date:
- February 1, 2009
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Mobile TeleSystems OJSC (MTS), the largest mobile phone operator in Russia and the CIS, announces that it has acquired a 100 percent stake in Narico Holdings Limited (Cyprus), a sole owner of Telefon.Ru, one of the largest retail chains in Russia, from Analog Holdings Limited and Delemont Investments Limited.
MTS has acquired a 100 percent stake in Telefon.Ru for $60 million, including the payment of approximately $22.4 million for inventory reserves.
In addition, the transaction includes a provision for a payment of $25 million in 12 to 18 months should the retail chain satisfy certain performance criteria.
Telefon.Ru operates 512 stores in ...