«Uralsvyazinform» (IPA) has received from the Federal Antimonopoly Service (FAS) approval for the acquisition of 100% shares of JSC «Tyumen telephone networks», operating authorities of Tyumen region.
This is the first purchase of telecom operator in the past 5 years. Industry analysts believe that the transaction WUXI pushes new leadership core shareholder of the company – «Svyazinvest», – requiring increased presence in the market SHPD, including in the corporate segment.
According to “Kommersant” Head of the Control of Transport and Communications FAS Constantine Senichkin, Antimonopoly Service has granted the application of OAO «Uralsvyazinform», filed March 2, to purchase 100% shares of JSC «Tyumen telephone networks» (TTS). «We concluded that the transaction will not affect the state of competition in the market for local telephone services in the territory of Tyumen», – he said.
The cost structure of the transaction and the parties have not yet been disclosed. «After obtaining the permission of the FAS on the parameters of the transaction is to consider the board of directors», – said the press secretary of the director «Uralsvyazinform» Valery Kostarev. According to him, the more likely it will happen after the annual meeting of shareholders of JSC «Uralsvyazinform» (held June 4 – “Kommersant”), which, inter alia, will elect a new board of directors. Executive Director of the Criminal Code «Partikom» Paul Bukreev confirmed that the shareholders of the company are negotiating with «Uralsvyazinform» for the sale of an asset, but the details of the transaction also refused to talk. «When they are completed, I still can not tell», – he merely said. «For Uralsvyazinform Tyumen telephone networks” are the relevant asset, and its sales of the company’s strategy », – said Mr. Kostarev, adding that the IPA is interested in gaining control at least over a majority stake DFD.
JSC «Tyumen telephone network» created in 2003 to provide services to telephony and broadband internet access (SHPD). Mainly serves corporate clients: TYUMEN oblsud, structural units Administration of Tyumen region, Tyumen State Oil and Gas University, JSC «Zapsibkombank», TFOMS PG «The Property Fund of the Tyumen region». According to the SPARK system, in 2007, revenues amounted to 17.278 million rubles, net profit – 1.992 million rubles. According to experts, is a small market share of Tyumen – 4-5 out of 10. Part of the management company «Partikom», which also includes the real estate, timber and furniture industries.
Industry experts could not estimate the value of TTS, suggesting only that it is no more than 10 million rubles, given the low turnover of the operator and the crisis in the market. Significantly, in 2006, the fund assets of Tyumen region put up for auction 50% of the company’s shares for 13 million rubles, but then the applicants for the package was not found.
For «Uralsvyazinform» it will be the first acquisition for the past 5 years. Prior to that, the telecommunications operator packages redeem shares from minority shareholders, the cellular companies, which in 2005 were added to the IPA (eg, CJSC «Ermak RMS», worked in the territory of the Tyumen region, KhMAO and YaNAO). «Previous interregional companies included in” Svyazinvest “have not been active in buying, but the situation has changed with the advent of new leadership gosholding (in February 2009 as CEO of the company appointed Evgeny Yurchenko, who succeeded Alexander Kiselev -” Kommersant “), which is set for MRK task to increase the proportion of the promising markets SHPD, including the corporate sector », – noted UniCredit Securities analyst Anna Kurbatova. Analyst IR iKS-Consulting Maxim Savvatin does not exclude that this is not the last transaction. In his view, in the Urals Federal District and in the Tyumen region, in particular, there is still much smaller phone companies that may be of interest to the LDCs. «Basically, this so-called departmental operators that serve specific businesses and their surroundings have a small capacity and a number have a stable income», – he explained.
According to analysts, after the transaction DFD will be attached to JSC «Uralsvyazinform» and cease to exist as a legal entity.
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Categorized | M&As in Telecom
Uralsvyazinform received from FAS permission to acquire 100% shares in OAO” Tyumen telephone network
Posted on 01 June 2009