Svyaznoy may sell share in business in 2012

2011-12-01



Maxim Nogotkov, the holder of Svyaznoy Group, the mobile retailer, is considering selling a minority share in the company to a telecommunication operator. The deal is expected to be completed during 2012. This was announced by Mr. Nogotkov during the opening of the flagship store of the company's new project – Enter Svyaznoy – which is a new non-food chain of stores offering consumer electronics and household appliances, furniture, tools, watches and accessories, children’s goods and gifts.
As Retail Update Russia reported on a previous occasion, Enter Svyaznoy is both an on-line and 'off-line' project and its management expects it to reach a 5%-7% share in the non-food Russian retail market by 2015.