MegaFon acquires Smarts' subsidiaries
MegaFon has acquired four subsidiaries of regional mobile operator Smarts in a bid to bolster its spectrum position.
The operator said it has purchased Smarts Samara, Astrakhan GSM, Yaroslavl GSM and Smart-Cheboksary for an undisclosed sum.
"The acquisition of the companies will strengthen MegaFon's position in the 900/1800MHz spectrum in the Chuvash Republic and the Samara, Astrakhan and Yaroslavl regions of Russia," said MegaFon.
MegaFon’s investor relations and M&A director Dmitry Kononov said the deal would enable the operator to develop LTE faster due to the opportunity to re-farm spectrum for LTE networks.
"The acquisition will also allow the company to sustain its leadership in the Samara market, as well as protect MegaFon's revenue and market share in other cities of the Volga and North-West regions," said Kononov.