Russia’s MegaFon unit buys 2 telecom cos in Chuvash Republic

MOSCOW, Nov 18 (PRIME) -- Major Russian mobile operator MegaFon’s broadband subsidiary NetByNet has fully acquired two regional telecommunications companies in Russia’s Chuvash Republic for 630 million rubles, MegaFon said Friday.

Specifically, NetByNet has acquired companies Internet Tsentr and Svyazinform, both providing broadband Internet access and TV via Internet Protocol (IPTV) services to more than 60,000 subscribers under the ChebNet brand.

NetByNet, which provides services in the Moscow, Belgorod, Voronezh, Kursk, Lipetsk, and Oryol regions, as well as in the Russian capital of Moscow, was acquired by MegaFon in June.

MegaFon is Russia’s second largest mobile operator, with 59.7 million subscribers as of late September, according to data from Advanced Communications and Media (AC&M).

(30.7337 rubles – U.S. $1)

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