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MegaFon boosts stake in Ostelecom to 75%

18 Mar 2010

Russian telecoms operator MegaFon has increased its stake in Ostelecom, which provides mobile services in the breakaway region of South Ossetia, from 51% to 75%, ISI Emerging Markets reports. According to TeleGeography’s GlobalComms Database, MegaFon took majority control of Ostelecom and Abkhazian operator Aquafon in April 2009. The Russian firm paid RUB935 million (USD28.5 million) for a 100% stake in Debton Investment Ltd, which owned 51% stakes in both Aquafon and Ostelecom.

Georgia, MegaFon

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