Comstar buys Urals telco

8 Jul 2008

Russian telecoms group Comstar UTS has announced its acquisition of the regional operator Ural TeleSystems (UTC). The RUB1 billion (USD43.3 million) cash deal will see Comstar taking 100% control of UTC, which provides fixed line voice and data services to 61,000 subscribers in Ekaterinburg and the Sverdlovsk region, part of the Ural Federal District in central Russia. ‘Ekaterinburg is one of the largest and most economically developed cities in Russia, and we are entering this market as a leading player among alternative telecommunications operators,’ said Sergey Pridantsev, CEO of Comstar, in a statement.

Russia, Comstar United TeleSystems (Comstar UTS)