Tele2 looking to take control of SMARTS, MCT’s Russian business

26 Jun 2006

The Russian arm of Swedish telco Tele2 is attempting to acquire Russian regional mobile operator SMARTS and the Russian mobile assets of US-based MCT Corp, according to Cellular News quoting unconfirmed reports in local business daily Kommersant. A source said that Tele2 had signed a memorandum of understanding with SMARTS’ shareholders to buy the Russian company for USD700 million. A SMARTS spokesperson said that Tele2 might also purchase regional mobile assets of MCT, which currently controls four minor mobile operators with a total subscriber base of around 260,000, the daily reported. The proposed deal might be slightly delayed as 100% of SMARTS’ shares have been frozen by two court decisions following a conflict between SMARTS’ key shareholders and Sigma, holder of a 0.125% stake. However, Kommersant’s source added that the conflict was close to an end and that Sigma has been offered USD30 million for its stake.

Russia, MCT Sibi, SMARTS Group, Tele2 Russia