Russian Telco Rostelecom has acquired the remaining 50% in regional player CJSC Volgograd-GSM it did not already own, Rostelecom announced.
The stake was sold by SMARTS Group for a total cash consideration of RUB2.32bn (US$80.5m).
Volgograd-GSM is a…
Russian Telco Rostelecom has acquired the remaining 50% in regional player CJSC Volgograd-GSM it did not already own, Rostelecom announced.
The stake was sold by SMARTS Group for a total cash consideration of RUB2.32bn (US$80.5m).
Volgograd-GSM is a regional mobile services player in the Volgograd region covering 90% of the region’s 2.6 million inhabitants. According to Rostelecom Volgograd-GSM had 855 thousand mobile subscribers as at the end of the first quarter of 2011, and a 20% share of the region’s GSM market as at the end of 2010. Volgograd-GSM reported RAS revenues of RUB 1,748 million (US$60.3m) and EBITDA of RUB 708m (US$24.4m) with an EBITDA margin of 40.5% for the full year of 2010. The Company’s net debt totalled RUB 340m (US$11.7m) as at 31 March.
