Rostelecom Eyes Handset Retail

摘要

According to local press reports, state-backed telecoms operator nRostelecom is considering a stake in mobile and consumer electron-nics retailer Euroset. Alexander Mamut, who owns a 50.1% stake nin the retailer, is reportedly looking to sell a 25% stake. However, nthe deal is complicated by mobile operator VimpelCom’s 49.9% nholding in the retailer, and its option to purchase a further 25% stake nthat expires on January 23 2012. BMI forecasts strong growth in con-nsumer electronics retail in Russia, underpinned by macroeconomic ntrends and consumer behaviour. Operators will also beneft from ninvestment in retail via improved distribution for its core telecoms nproducts. However, co-ownership with VimpelCom would reduce nthese benefts, making an alternative consumer electronics acquisi-ntion of greater value to Rostelecom, BMI believes.