Mobile operator Tele2 Russia has dropped plans to buy regional operator Smarts because of a conflict among the shareholders of the target, according to media reports.
Telecompaper reports that Tele2 Russia considers that the dispute renders the…
Mobile operator Tele2 Russia has dropped plans to buy regional operator Smarts because of a conflict among the shareholders of the target, according to media reports.
Telecompaper reports that Tele2 Russia considers that the dispute renders the transaction too risky.
In May, Tele2 was reported to have offered US$390m for 97% of Samara-based Smarts Group. The regional operator serves Samara, Ivanovo, Astrakhan, Penza, Ulyanovsk, Volgograd and Saratov Regions, plus the Republics of Bashkortostan, Kalmykia, Tatarstan, Mordovia, Mari El and Chuvashia.
Tele2 did not reply to request for comments before press time.
