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.”

MORE ARTICLES YOU MAY BE INTERESTED IN...


Sign-up to our weekly newsletter

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE twice-weekly email newsletters for the latest telecom info in developing and emerging markets globally.
I agree with the Terms and conditions and the Privacy policy
By accepting occasional e-mails from our partners, inviting you to download articles, white papers and attend events, you are helping fund free access to this valuable news service for emerging markets.