Major Russian telecommunications operator VimpelCom has fully acquired wireline company Eltel operating in the city of St. Petersburg, VimpelCom said in a statement Monday.
The value of the deal amounted to 1 billion rubles, VimpelCom said.
VimpelCom obtained antitrust permission to acquire Eltel in December 2010. The antitrust body said in late December it had also given permission to buy Eltel to Multiregion, a subsidiary of major mobile operator MTS.
Eltel provides fixed-line telephony and broadband services to 1,800 corporate subscribers in St. Petersburg, according to the company’s Web site. The operator’s network also covers 1,120 houses, according to the company’s data.
VimpelCom is Russia’s third largest mobile operator, with around 51.1 million subscribers as of late November 2010, and the country’s third largest wireline broadband operator, with about 1.3 million users as of late September, according to data from Advanced Communications and Media (AC&M).
News source: PRIME-TASS
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