How MegaFon Became a Shareholder of Svyaznoy

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Svyaznoy was founded in 1995 in Moscow by Maxim Nogotkov. At that time, the company was called Maxus, and the Svyaznoy brand appeared in 2002. In 2014, Mikhail Prokhorov's ONEXIM, to whom Svyaznoy owed $130 million, sold the rights to claim this loan to Oleg Malis's Solvers, as a result of which the latter became the belize cell phone number list
controlling shareholder of Svyaznoy. MegaFon became a co-owner of Svyaznoy in 2018, receiving 25% plus one share and two seats on the board of directors, as a result of a deal to merge the retailer with Euroset, 100% of which the operator had consolidated several months earlier.

After the start of the special military operation in Ukraine, a number of equipment manufacturers stopped deliveries to Russia. By July of this year, Svyaznoy had received lawsuits totaling 14.2 billion rubles for failure to fulfill obligations under various contracts. Among those filing the lawsuits were Sovcombank, Alfa-Bank, equipment distributor Merlion, VimpelCom (provides services under the Beeline brand), and others.

On Thursday, December 1, the Moscow Arbitration Court approved a settlement agreement between Sovcombank and Svyaznoy. The bank demanded that the retailer pay about 2.9 billion rubles. As stated in the ruling, Svyaznoy will have to pay Sovcombank about 2.6 billion rubles in several payments by the end of 2025. The retailer is also obliged not to change the composition of participants and ownership structures without the consent of Sovcombank, not to pay dividends, not to provide loans, guarantees and sureties in the amount of more than 200 million rubles per year, not to reduce the authorized capital, not to carry out transactions to alienate property constituting more than 5% of the defendant's assets, with the exception of transactions within the framework of ordinary business activities for the sale of goods.