Russia's largest mobile phone retailer Euroset has denied it is looking to sell a stake to Russia's top mobile operator MTS.

Euroset's president Alexey Chuikin says the company has no such plan. Although he has said any business that Euroset created could eventually be sold.

Chuikin spoke to RT about the company's plans for emerging markets. “India's retail sector is changing dramatically and, each month, the market becomes more and more attractive to us,” he said.

The head of the Russian top telecom operator MTS Leonid Melamed has also rejected the existence of any slightest probability for the featured deal, according to RIA news agency.

“We will buy Euroset under no conditions”, said Melamed. Though he has pointed out MTS is willing to broaden it’s cooperation with the retailer.