Russias MegaFon board approves buying SMARTS Volgograd unit - Telecommunications - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Russias MegaFon board approves buying SMARTS Volgograd unit

megafon01MOSCOW, Feb 5 (PRIME) -- The board of directors of major Russian mobile operator MegaFon has approved a deal to buy a 100% voting stake in SMARTS Volgograd, a unit of mobile firm SMARTS, MegaFon said in a statement late on Tuesday.

Earlier in January, the deal was cleared by the antimonopoly service, which also allowed Tattelecom, the largest wireline operator in the republic of Tatarstan, to acquire two other SMARTS units SMARTS-Ufa and Shupashkar-GSM in late 2013.

SMARTS, which has long been conducting a trial against businessman Leonid Mayevskys Sigma Capital Partners, which claimed its rights to a stake in SMARTS, has already sold a number of its units.

In mid-2013, Tattelecom bought 100% of SMARTS subsidiary SMARTS-Kazan operating in Tatarstan.

In 2011, wireline giant Rostelecom bought 50% and 49% stakes in SMARTS subsidiaries Volgograd-GSM and Orenburg-GSM and was cleared to acquire 100% of another subsidiary of SMARTS Astrakhan-GSM in late 2012.

SMARTS, one of Russias top 10 largest mobile operators, covers the Volga and central regions of the country.

End

05.02.2014 11:52
 
 
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