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Veon +3.2% as it ends Euroset JV with Megafon

Published 02/26/2018, 09:30 AM
© Reuters.  Veon +3.2% as it ends Euroset JV with Megafon
  • Veon (NASDAQ:VEON) is up 3.2% premarket after announcing that it and Megafon (OTC:MFOYY) have completed the transaction to end their Euroset joint venture.
  • VimpelCom (the Russian unit of Veon) acquired half of Euroset's retail stores by paying Megafon 1.25B rubles (about $20M), while Megafon takes over Veon's interest in Euroset.
  • The move doubles VimpelCom's retail network in Russia, which it plans to integrate under its Beeline brand under a single-brand strategy.
  • Now read: CK Hutchison Holdings Needs To Find A New Driver


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