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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.

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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