Veon is exiting its retail joint venture with Megafon in Russia. The operator agreed to sell its 50 percent stake in the retailer Euroset to Megafon, while at the same time acquiring half of all Euroset stores.
Veon said the more mature Russian market means a greater focus on customer service and retention, rather than Sim card sales, requiring the operator to develop its own shop network. The deal will allow its subsidiary Beeline to double its retail chain across Russia.
The agreement still needs regulatory approval. No financial details were disclosed.
