Comstar expands in Southern Federal District

20 Nov 2007

The Russian fixed line operator Comstar-UTS has agreed to pay RUB4.1 billion (USD167.4 million) for 100% of Digital Telephone Networks (DTN), a wireline operator in the country’s Southern Federal District. DTN offers fixed line telephony and internet services to residential and business users in the Rostov and Krasnodar regions. Comstar, which is majority owned by AFK Sistema, says it hopes to see sales of USD550 million from its regional operations by 2011, up from USD42 million in 2006. The firm says it expects to invest around USD120 million on its expansion outside of Moscow between 2008 and 2011, RBC reports.

Russia, Comstar United TeleSystems (Comstar UTS)