Rostelecom acquires multi-services provider for $24 million

Rostelecom acquires multi sevrices provider for $24 million

Russian operator Rostelecom continued its acquisition strategy with the purchase of Sozvezdiye N for RUB 1.77 billion ($24 million), a move it stated to bolster its broadband and broadcast offerings position in key locations.

In a statement, the operator said it acquired 100% of shares in Sozvezdiye N, the parent company of Planeta Group a leading multi-services provider in Yekaterinburg and the Sverdlovsk region.

Planeta Group offers high-speed broadband, TV, voice services, hosted PBX, VPN, and video surveillance for consumers and businesses across the largest cities of the region. It has a subscriber base of 100,000 households and over 6,000 businesses and state organisations.

Alexander Kolesnikov, Rostelecom VP for affiliates corporate management and assets said:
“The acquisition of Planeta Group of Companies is one of those targeted M&A deals that help strengthen our position in local broadband and pay-TV markets, where Rostelecom is the key national player. The acquisition presents a great opportunity to introduce Rostelecom’s wide range of digital services to Planeta’s clients, and both companies will benefit from synergy effects in the near term.”

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