MTS acquires mobile phone retailer Telefon.Ru for $60 mln
MTS announces officially that it has acquired 100% shares of Narico Holdings Limited company (Ciprus), which is a 100% owner of CJSC Telefon.Ru, from Analog Holdings Limited and Delemont Investments Limited.
MTS paid about $60 mln, including $22.4 mln for stockholding. Also the deal covers payoff to shop-assistants in amount of $25 mln within 12-18 months on conditions that the activity of Telefon.Ru company corresponds with the agreement requirements.
Telefon.Ru chain store sells mobile phones and other digital devices as well as contracts and services of mobile operators. On January 1, 2009 Telefon.Ru retail chain had 512 stores in 180 cities of Russia.
Financial results of Telefon.Ru will be included into consolidated financial statements of OJSC MTS since February 10, 2009.
В© Oxana Vassilyeva
