MegaFon closes USD745 million Synterra purchase

4 Jun 2010

Dow Jones reports that Russian cellco MegaFon has closed the USD745 million acquisition of long-distance operator Synterra, following several months of negotiations with owner PromSvyazCapital and rumours of a counter bid from Rostelecom. MegaFon’s two larger cellular rivals Mobile TeleSystems (MTS) and Vimpelcom both own extensive long-distance infrastructure which they are in the process of expanding.

Russia, MegaFon, Synterra