Russian fixed-line-focused holding company Svyazinvest has suspended its mobile merger plans.
State-owned Svyazinvest was proposing to merge its 14 mobile subsidiaries with MegaFon, currently the smallest of the country’s three dominant mobile networks….
Russian fixed-line-focused holding company Svyazinvest has suspended its mobile merger plans.
State-owned Svyazinvest was proposing to merge its 14 mobile subsidiaries with MegaFon, currently the smallest of the country’s three dominant mobile networks. However, Dow Jones News reports that the company has said it is no longer negotiating with MegaFon and the talks are on hold until next year, although no reason was given.
MegaFon, which is 31.1%-owned by Uzbek tycoon Alisher Usmanov and recently made a US$710m offer for Synterra, has been valued by analysts at over US$15bn.