Russian mobile operator MegaFon is to take direct control of regional business PeterStar, according to Telegeography citing a company announcement. The deal will be discussed at a board meeting on September 28.
The buyer will reportedly take direct…
Russian mobile operator MegaFon is to take direct control of regional business PeterStar, according to Telegeography citing a company announcement. The deal will be discussed at a board meeting on September 28.
The buyer will reportedly take direct control over from Synterra, a conglomeration of regional telco businesses that it acquired for US$745m earlier this year. The aim is for MegaFon to centralise all its operations in the North West Federal District. Last month, PeterStar announced its own plans to merge five of its subsidiaries into its main operation.
As such, Gazinternet and Eurotelecom, both based in Kalingrad, Arkhangelsk-based TD Telecom, Saint Petersburg-based Linya1 and Tver-based Kansstel were to be integrated into local branches of PeterStar.
Last month, MegaFon was reported to have signed a credit line worth up to US$50m (E39m) opened for five years with Nordea. The proceeds were to be used to repay the debt of Synterra, which MegaFon recently acquired, and for general corporate purposes.
MegaFon was not immediately available for comment.
