AF Telecom, the holding company of Russian businessman Alisher Usmanov, and the shareholders of the LTE/Wimax operator Scartel signed a preliminary agreement to create a joint venture, reports Vedomosti. The owners of Scartel agreed to incorporate the company into Usmanov's holding company, in a deal valuing Scartel, which operates under the name Yota, at around USD 1 billion. They will get an almost 20 percent stake in the holding company. The deal will bring Scartel closer to mobile operator Megafon, in which AF Telecom holds a 50 percent plus one share. Vedemosti cited Ivan Streshinsky, a director at Telecominvest, the holding company that controls a majority of AF's stake in Megafon. The company Russian Technologies, which holds 25 percent in Scartel, confirmed the agreement. The transaction should be concluded once the competition regulator FAS approves the deal.
