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  Tuesday, November 19, 2019
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Russian billionaire Alexander Mamut's investment company ANN has bought
Russian billionaire Alexander Mamut's investment company ANN has bought 100% of Russia's largest mobile handset retailer Euroset, a leading business daily reported on Monday.

According to Kommersant, the deal between ANN and Euroset, which has over 5,000 retail outlets in Russia and former Soviet republics, was reached on Sunday evening. Euroset and Mamut confirmed to Kommersant that the deal had been closed.

The parties declined to disclose the size of the transaction. However, according to Kommersant sources, Mamut will pay around $400 million for Euroset, without taking into account the firm's liabilities, estimated at about $850 million.

Vedomosti, another Russian business daily, reported on Monday that Russia's largest mobile operator MTS had registered an offshore company, Dega Retail Holding Ltd., in the British Virgin Islands with a view to buying a stake in Euroset.


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