Reuters 7 December 2012
MegaFon, Russia’s No.2 mobile operator, has completed a $1.07 billion deal to buy a stake in cellphone retailer Euroset to expand the number of shops through which it can sell its services.
MegaFon MGFON.UL, controlled by Russia’s richest man Alisher Usmanov, announced plans in October to buy half of Euroset. Under the deal, Lefbord Investments – owned equally by MegaFon and Usmanov’s Garsdale vehicle – has bought 50 percent of Euroset for $1.07 billion. It will pay an additional $100 million if Euroset meets certain targets.
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