Sistema takes 45% stake in St Petersburg telco

16 Sep 2005

Russian holding group Sistema has purchased a 45% stake in regional alternative telco Metrocom for USD22.5 million in cash and debt from Antel Holdings. Metrocom is one of the leading fixed line operators in the St Petersburg area, where it operates its own 1,000km fibre-optic network and has a market share of around 37%, much of which is made up of large corporate clients.