Megafon bought the Yota trademark for 27 billion rubles in December last year, according to the operator’s financial report for the first half of the year.
News broke last fall that Megafon and its subsidiary Yota would merge their retail networks by the end of 2023.
After the transfer of the brand to the Group, the costs of using the brand are reclassified from non-current non-financial assets to capital investments.
Thus, the CAPEX indicator for the first half of the year increased to 71.0 billion rubles, an increase of 99.4%. Revenue grew by 13% to 209 billion rubles, net profit also showed growth – by 133.9% to 26.9 billion rubles.
As noted in Megafon, the brand was acquired from the USM group, the cost was estimated by an independent company.
“The deal was implemented as part of MegaFon’s asset restructuring: we are acquiring assets and companies associated with the telecommunications department and abandoning non-essential ones,” Kommersant was quoted as saying in the company’s message.
The operator has owned Yota since 2013.
Previously, Megafon reduced its stake in Start online cinema from 50% to 45%. The operator explained this decision by the fact that the platform has never been a core business and this share distribution reflects the relationship with this asset.
Author:
Natalia Gormaleva
Source: RB
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