OAO Mobile TeleSystems “(MTSS) / MTS / acquired 100 percent shares of the company Narico Holdings Limited / Cyprus /, which is 100 percent owned company” Telefon.Ru “companies Analog Holdings Limited and Delemont Investments Limited. This is stated in the communication of MTS.
The deal amounts to about U.S. $ 60 million, including the cost of stock worth approximately U.S. $ 22.4 million In addition, the deal provides for the payment to sellers of $ 25 million at the end of 12-18 months, subject to conformity with the performance of Telefon.Ru “requirements contract.
Network Telefon.Ru provides retail sales of cellular phones and other digital appliances, as well as sells contracts and services operators, as their dealer. Network Telefon.Ru “on 1 January 2009 there were 512 stores in 180 Russian cities.
Financial results “Telefon.Ru” will be included in the consolidated financial statements of ITT, since February 10, 2009
As previously reported by PRIME-TASS news agency, the Federal Antimonopoly Service of the Russian Federation granted the motion of OJSC “Mobile TeleSystems” on the purchase of network Telefon.Ru.
OAO Mobile TeleSystems “- mobile operator in Russia and CIS countries. The consolidated subscriber base of the company amounts to 91.33 million subscribers.
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Categorized | M&As in Telecom
MTS has acquired the retail network “Telefon.Ru for $60 million
Posted on 11 February 2009