Euroset shareholder in talks to sell stake

Russia-based Euroset’s major shareholder Alexander Mamut is in talks with domestic operators MegaFon and Rostelcom to sell his stake in the company, Kommersant reports. The deal is likely to be completed within three months. In April 2011, he attempted an IPO in London but the offering stalled due to a lack of demand.

Euroset’s second-largest shareholder, Russian mobile operator VimpelCom which holds a 49.9% interest in the company, had a preferential right to acquire an additional 24.9% holding until January 2012 but declined the offer.