Russia's second largest mobile operator, MegaFon, has moved closernto its long-awaited IPO by requesting permission from the nationalnmarkets regulator to list proxy shares in London. Meanwhile, therenhave been local press reports linking the operator with a 50% stakenin consumer electronics retailer Euroset. While MegaFon lacks geographicalndiversification, it has a strong market position in Russia,nwhich BMI expects to prove attractive to investors.
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