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Euroset to seek IPO in London in 2011

Files under: Mobile, News, Tech
Posted by: admin @ 06:41 [11. 11. 10]

The largest Russian mobile phone retail chain Euroset, which plans IPO in London in 2011, is selecting IPO managers, reported newspaper Vedomosti. The company, which may sell up to 30% of its shares, could be valued at over $2 billion.

Founded in 1997, Euroset is 50.1% owned by Russian investor and entrepreneur Alexander Mamut. Russia’s 2nd largest mobile phone operator VimpelCom (Beeline) owns the other 49.9% of Euroset. In 2009, Euroset reported revenues of 55.2 billion Rubles (ca. $1.7 billion), EBITDA of 4.8 billion Rubles (ca. $152 million) and net income of 1.2 bilion Rubles (ca. $38 million). Euroset has over 4,200 retail shops in Russia, Ukraine, Belarus and Kazakhstan.

Alexander Mamut owns a half of Internet media company SUP Media (LiveJournal, Championat.ru, Gazeta.ru, etc) and majority of publishing group Azbooka-Atticus. He also owns more than a third of bookstore retail chain Bookberry that filed for bankruptcy protection last year. Waterstone’s founder, Tim Waterstone owned a stake in Booberry.

Alexander Mamut recently acquired more than 3% at HMV Group, announced HMV.

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