MegaFon interested in SMARTS buy

1 Oct 2008

Russia’s third largest cellular operator by subscribers, MegaFon, has filed for regulatory approval for a possible buy-out of smaller rival SMARTS Group, Reuters reports. A petition filed with the Federal Antimonopoly Service shows that MegaFon is looking to acquire 100% of SMARTS’ voting shares. MegaFon is not the only firm chasing a deal with SMARTS, however, with cellular market leader MTS requesting regulatory approval for an acquisition back in July. SMARTS’ current owners, who include Russian businessmen Gennadi Kiryushin and Boris Skvortsov, have been looking to sell up for some time. MegaFon, which operates mobile networks across Russia, had almost 39 million subscribers at the end of June, according to TeleGeography’s GlobalComms database, while Volga region operator SMARTS claimed four million at the same date.

Russia, MegaFon, SMARTS Group