Investment firm ANN of Alexander Mamut has acquired Euroset, currently the largest mobile handset retailer in Russia. The company's new parent also owns a large stake in SUP, which purchased LiveJournal from Six Apart in December 2007.
Euroset was founded in 1997 and boasts over 5000 retail outlets throughout Russia and neighboring countries. Revenues in 2007 totaled $3.6 billion, reports Quintura.
Stateside, mobile handhelds have cannibalized the dominance of landlines. Russia's market, where landline penetration was not quite as strong strong, reflects a similar trend. What's more, over 11 percent of Russian mobile users have accessed the 'net from their mobile devices.
