MTS acquired Teleforum for 11 million dollars
MTS, the largest cellular network operator in Russia and CIS, has announced 100% acquisition of mobile phone retail chain Teleforum from its earlier owners EWINSER INVESTMENT S.A. (BVI) and a private individual.
The deal totaled 11 million dollars 20% of which the seller will get with the closing of the deal and 80% will be paid out after 12 months subject to fulfillment of several agreement terms, including the compliance of the performance figures of the acquired company with the deal's requirements.
Teleforum retail chain sells mobile phones and other digital devices, as well as carriers' contracts and services. Today Teleforum has 180 stores with 92 of them in St.-Petersburg and St.-Petersburg region. Also the chain operates in Krasnodar and Rostov regions, Bashkiria republic and Karelia, Pskov and Arkhangelsk regions.
Financials of the acquired company will be included in the consolidated financial reports of OAO MTS since October 7, 2009.
В© Oxana Vassilyeva