Mobile operator MTS has completed its merger with fixed-line operator Comstar.
Comstar’s shareholders received MTS ordinary share at an exchange ratio of 0.825 MTS ordinary shares for each Comstar ordinary share. A total of 98,853,996 Comstar shares were…
Mobile operator MTS has completed its merger with fixed-line operator Comstar.
Comstar’s shareholders received MTS ordinary share at an exchange ratio of 0.825 MTS ordinary shares for each Comstar ordinary share. A total of 98,853,996 Comstar shares were converted into existing MTS treasury shares as well as newly issued MTS shares. As a result, MTS’ charter capital increased by 73,087,006 ordinary shares to a total of 2,066,413,144 ordinary shares.
MTS was advised by Goldman Sachs and Latham & Watkins.
JPMorgan provided a fairness opinion to the Comstar Special Committee of Independent Board Directors, while Linklaters CIS acted as legal adviser to Comstar.
Ernst & Young provided independent statutory appraisals to MTS and the Comstar Special Committee of Independent Board Directors for the purposes of each company’s assessment of the prices to be paid to shareholders who will sell back their shares.
…and snaps up Inteleca
The operator has also acquired 100% of regional alternative cable operator Inteleca Group from a group of private investors for Rbs545.8m (US$19.2m).
The transaction also includes Inteleca’s debt of Rbs58.5m (US$2.1m).
Inteleca operates in the cities of Barnaul and Biysk in Altai Krai of the Siberian Federal District. It has 41,500 broadband internet users and 52,100 cable TV subscribers.
The company has more than 500 kilometres of fibre optic cable. It is using Fiber-to-the-building and Hybrid fibre-coaxial network technologies.
