M.video buys rival Eldorado

M.video’s takeover of rival electronics retailer Eldorado is complete. The deal has been approved by Russian antitrust authorities, RBC Daily reports. M.video will purchase Eldorado despite restrictions imposed by regulators by. Under these, consumer electronics and home appliances retailer M.video will have to close stores in 30 regions to not exceed a 35% market share. The acquisition means M.video will cement its leadership in the Russian electronics retail sector, operating around 700 stores with a turnover of almost USD8 billion in 2013.

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