British group may buy Russia's Eldorado

MOSCOW, April 18 (UPI) -- Britain's Dixons Group has an option to buy Eldorado Group, Russia's largest retailer of household appliances, the Novosti news agency reports.

The deal is based on an option agreement, which expires in 2011, with the price set at about $1.9 billion, the report said.

Neither Dixons nor Eldorado has made any public announcement about the deal, the report said.

Analysts said the Dixons-Eldorado proposal may mark a new stage in Russia's relations with foreign investors, Novosti said. The gaze of Western companies is now fixed on consumer market players, not commodity giants.

The Eldorado network has 610 stores, including 290 franchises.