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MTS buys broadband provider
19.07.2010
Mobile TeleSystems (MTS) purchased 100 percent in the Multiregion group of companies from Cavolo Trading Limited (Cyprus) for $123.5m, the Russian communications provider indicated in a press release. MTS also assumed Multiregion's debts of roughly $94.4m.
Multiregion provides broadband access and cable television in 37 cities across Russia. The network currently covers some 1.8m households, 1.3m of which are connected to FTTB (Fiber-to-the-Building) technology. Multiregion boasts around 700,000 cable TV subscribers and 260,000 broadband subscribers. The group's financial results will be consolidated in MTS's statements starting July 16, 2010.
www.rbcnews.com
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