Euroset Prelim 2007 Gross Sales $5.61 Billion, Up 21% On Year

MOSCOW -(Dow Jones)- Russia's biggest mobile handset retailer by revenue, Euroset, Monday said its 2007 gross sales jumped 21% on the previous year to $5.61 billion, according to preliminary data.

Euroset sold 12.6 million mobile phones in 2007, up 4.2%. Its market share stood at almost 35%.

Euroset's Chief Executive Alexei Chuikin confirmed media reports earlier Monday that the company is considering selling a stake to a minority investor.

"We had several interesting offers from various financial institutions," Chuikin told reporters. "But there aren't any active ongoing negotiations."

Euroset Chairman and founder Evgeny Chichvarkin said shareholders would consider a bid of "a lot of money" from a strategic investor, but declined to specify a figure.

Company executives have said on many occasions in the past that Euroset is planning to hold an initial public offering in 2008.

-By Elena Murina, Dow Jones Newswires; +7 495 974 80 55; elena.murina@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 28th January 2008