Mobile phone retailer Euroset has acquired 446 stores from rival Svyaznoy. The company will immediately proceed with rebranding the stores, which include 70 in Moscow, to Euroset and Beeline.

Euroset president and chief executive officer Alexander Malis said: “Our goal was to acquire the most attractive Svyaznoy stores that generate most sales. It will be very difficult for Svyaznoy to compensate for the loss, given the fact that those stores generated 40% of their revenue.”

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