Cellular retail

The largest cellular retailer Euroset intends to lay off part of its staff, while the reduction will affect only office workers and will not in any way affect the retail network’s sellers, said Chairman of the Board of Directors of Euroset Evgeny Chichvarkin. This week, employees of the retail chain received a letter from the head of the company, informing them that some of the office staff could soon be laid off. Retail will not be affected; moreover, this month alone we plan to open 14 new stores in Moscow, said Mr. Chichvarkin. According to him, currently there are two office employees for every eight retail workers. “This ratio will not fall below one to ten,” he clarified, adding that in the future the vacancies vacated as a result of the crisis will be reopened.

"Interfax"

Fixed line

Oneirik Limited bought 9.6% of Dagsvyazinform

The Oneirik Limited company became the owner of 9.6% of the shares of OJSC Dagsvyazinform, the joint-stock company said in a statement. Previously, Oneirik Limited did not own shares in Dagsvyazinform. At the same time, Summa Telecom Limited reduced its share of Dagsvyazinform shares from 9.62 to 0.02%. OJSC Dagsvyazinform is the main fixed-line operator in Dagestan. The largest shareholder of Dagsvyazinform is OJSC Svyazinvest, whose share in the authorized capital is 38% (50.66% of ordinary shares).

"Interfax"

cellular

Telecom Italia hits low

The capitalization of Italy's largest telecommunications company, Telecom Italia, has reached an 11-year low amid the company's financial difficulties and the lack of prospects for its acquisition by a strategic investor. Telecom Italia shares fell 2.4% to €0.93 on the Milan exchange on Tuesday, their lowest price since January 1998. On Wednesday, the shares continued to fall; during the day their current price was €0.84, which corresponds to the company’s capitalization of €12.4 billion. Previously, the Russian AFK Sistema was interested in purchasing a stake in Telecom Italia. Consultations between the parties are still ongoing, but there are no agreements on a deal, a source familiar with the situation said.

"Interfax"

Euroset will lay off employees