Megafon close to takeover deal with Akado - report

News Broadband Russian Federation 12 JUL 2011
Megafon close to takeover deal with Akado - report
The board of Russian operator Megafon will take a decision by the end of July on the possible acquisition of Akado, reports Vedomosti citing executives close to both companies. The operator is expected to go ahead with the acquisition, which, if successful, would make it the largest player on the Moscow broadband market. Akado shareholders earlier said the company was in exclusive negotiations with Megafon. The acquisition is expected to cost around USD 1.2 billion, including about USD 200 million in debt at Akado.

Categories:

Internet

Companies:

MegaFon,  Akado Telecom

Countries:

Russian Federation

Tags:

Internet Access, M&A buyouts & divestments

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