Tele2 takes control of UCC

13 Jul 2009

Swedish telecoms group Tele2’s Russian subsidiary has announced that its has successfully bought out the remaining 25.5% of Udmurtiya Cellular Communications (UCC), giving it 100% control over the company. Tele2 will pay a reported USD37.85 million for the stake in UCC, which is the leading operator in the Izhevsk region. The move reflects a general trend in the Russian market which has recently seen companies such as Svyazinvest and Megafon announce plans to consolidate their regional holdings into a single company, buying out local cellcos to streamline operations and simplify the decision making process.

Russia, Tele2, Tele2 Russia, Udmurtiya Cellular Communications