com
VolgaTelecom acquires Sarov city operator
VolgaTelecom
VolgaTelecom has closed a deal to acquire a 100% equity stake in the Sarov operator “Gorodskaya Telefonnaya Svyaz” (City Telephone Network), which provides telephony services in the closed town of Sarov and the village of Satis in the Diveevskiy region of Nizhniy Novgorod district.
The board of directors at VolgaTelecom made the decision to enter GTS on June 8th and the equity acquisition bid was approved by the Federal Antimonopoly Commission on June 25th. VolgaTelecom purchased the stake from the “All-Russian Research Institute of Experimental Physics”.
The move is part of a development programme for 2009-2013 which involves initiatives that enable VolgaTelecom to increase its shareholder value through the acquisition of shares in regional telephone operators.
GTS has a total installed capacity of 33,000 lines, with licences to provide local telephony services (excluding payphones), telegraphy and Internet. It is the leading fixed line operator in Sarov with a market share of around 80%.
Source: Svyazinvest