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Russia: Electronics retailer merger short-circuits

By  |  August 28, 2013

A planned merger between two electronics retailers has reportedly collapsed due to a failure of the parties to reach agreeable terms, as well as concessions imposed on Russia’s antitrust watchdog were the merger to go through.

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    Retailer M.Video announced Wednesday that the acquisition of rival Eldorado has been scrapped, citing the Federal Anti-Monopoly Service’s requirements for the deal and the deconstruction of merger talks.

    A spokesperson for M.Video said the two failed to reach a consensus on the deal.

    The merger was first discussed in 2011 and revived earlier this year. The FAS cleared the deal but ordered the new company to divest some stores. A Czech Republic investment group currently owns Eldorado.

    Full Content: The Moscow Times

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