четверг, 5 июня 2014 г.

"Coherent" again is on sale


The owner of the independent cellular retailer, largest in Russia, "Coherent" Maxim Nogotkov again looks for the buyer

The owner of the independent cellular retailer, largest in Russia, "Coherent" Maxim Nogotkov again looks for the buyer. After the transaction with "Oneksim" fell apart, it addressed with the offer to mobile network operators.
Without having managed to sell retail network of electronics to "Coherent" group "Oneksim" of Mikhail Prokhorov, the main shareholder of a network Maxim Nogotkov began search of other buyers on this asset, reported ITAR-TASS agency with reference to the source. It was confirmed to "Sheets" by two managers of the companies – partners of several mobile network operators. Negotiations, according to interlocutors of "Sheets", were conducted with the companies of "the big three" (MTS, "Vympelcom" and "MegaFon"). Knows a source, close to the operator, about negotiations with "Vympelcom". That such offer arrived MTS, the manager AFK "Sistema" (owns a controlling stake of MTS) knows.
According to a source of ITAR-TASS, during negotiations of an assessment "Coherent" reached 1,5 bln. dollars. Thus it was supposed that the potential new investor will invest at least 300 mln. dollars in the company and will assume its debt of 500-600 mln. dollars. By "coherent" it is estimated at 300 mln. dollars, its debt makes 17-18 billion rubles, i.e. an order of the same 500-600 mln. dollars, the manager of one of the companies – partners of mobile network operators speaks. According to him, it is about full sale of a network. For the end of 2013 the pure debt "Coherent" made about 9 billion rubles, follows from its administrative reporting.
The representative of "Vympelcom" "Coherent" does not make comments on negotiations on purchase.
The representative of MTS Dmitry Solodovnikov and one more source in "System" deny existence of negotiations. According to Solodovnikov, the operator has an agreement with "Coherent" on reception at subscribers of payments for mobile communication and sale of SIM cards of the operator. MTS and "Coherent" also has joint projects: for example, the virtual operator "Coherent Mobayl" works at a network of MTS, he reminds.
"MegaFon" also does not conduct negotiations with "Coherent" and is concentrated on development of own retail and online channels of sales, the representative Olesya Yaremenko assures him.
At "Coherent", according to its data, now 3200 salons of communication in Russia. MTS has about 4000 own salons of which about a half of all new connections is the share, Solodovnikov notes. At "Vympelcom", according to own data, for the end of their I quarter 2014 was 1200.
The participants of the cellular market interrogated by "Sheets" remind that the question of partial or full sale "Coherent" is discussed not the first year. In 2011 the parent company of "Coherent" Svyaznoy N. V. considered possibility of public placement of shares at the London stock exchange, and after crisis in the eurozone – a question of private placement, told earlier to "Sheets" the sources close to "Coherent" and to Sberbank of CIB bank which had to find investors. The owner of Access Industries Leonard Blavatnik and Oneksim group were interested in "coherent", in particular.
The transaction with "Oneksim" had to be closed until the end of 2013. It was planned to create holding in which Prokhorov would bring 83% "The credit Renaissance" and 270-300 mln. dollars, and the Marigold – "Coherent bank" and a retail network "Coherent": thus each of them would receive on 50% of the new company, told earlier to "Sheets" of people, close to one of the parties of the transaction. But "Oneksim" left negotiations – it did not accept indicators of "Coherent bank", the Kommersant newspaper reported in February, 2014. Transactions are not present, told on June 3 the source close to one of its parties. He did not call the reason.
By theoretically "Coherent" it could be interesting to MTS – "MegaFon" and "Vympelcom" already own on a parity basis the cellular retailer, largest in Russia, "Euroset", and MTS terminated recently with it the contract, the partner AC&M-Consulting Anton Pogrebinsky argues. On the other hand, MTS already has own retail network, one of the largest in Russia, he notes. Besides, "Coherent" the Tele2 and Rostelecom joint venture which applies for the status of the fourth federal mobile network operator can become interested, Pogrebinsky does not exclude.
"Rostelecom" has more than 2200 centers of sales and service – his "daughter" "Rostelecom – retail systems" will be engaged in further development and optimization of a network, the representative Valery Kostarev noted it.
Marigold, representatives "Coherent" and Tele2 refused comments.
To whom belongs "Coherent"
Maxim Nogotkov possesses 91,76% of the operating Trellas Enterprises ltd holding (Cyprus) owning the Netherlands Svyaznoy N. V. (to it belong on 100% in each of the companies of group – retail network "Coherent", the Coherent Travel project, Svoy.ru multimedia portal, etc.). Names of other shareholders are not revealed.

Valery Kodachigov, Darya Trosnikova
Sheets

No. 99 of 04.06.14

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