Russian mobile operator MegaFon is set to take over Moscow-based ISP NetByNet for about US$360m, Telegeography reports quoting local media.
The ISP is reportedly valued at about nine times its estimated EBITDA for 2011.
MegaFon has been looking to enter…
Russian mobile operator MegaFon is set to take over Moscow-based ISP NetByNet for about US$360m, Telegeography reports quoting local media.
The ISP is reportedly valued at about nine times its estimated EBITDA for 2011.
MegaFon has been looking to enter Moscow’s broadband market for some time.
Last April, both MegaFon and cable operator MultiRegion received permission from the Federal Antimonopoly Service (FAS) to acquire the ISP.
NetByNet reportedly has 450,000 subscribers, of which 85% are based in Moscow and the surrounding region. It is the capital’s fourth largest ISP, its main competitor being Comstar UTS, the parent company of MultiRegion, which reportedly has a 30% market share in the city.
NetByNet is currently owned by Fairlie Holding & Finance Limited (34%), Gazprombank (31%), Aton Capital Private Equity Group (16%), Ivan Tavrin (16%) and the management (3%).
The company was reportedly put on the market in October 2010.