Russian mobile giant MegaFon has reportedly completed the acquisition of regional operator Nakhodka Telecom for RUB196 million (USD6.44 million). The deal, which was cleared by the Federal Antimonopoly Service (FAS) in August, saw Cyprus-based holding company Debton Investments – itself a subsidiary of MegaFon – acquire the company from national fixed line operator TransTeleCom (TTK); TTK itself acquired the company as recently as December 2009.
Formed in November 1991 as a Soviet/British joint venture, Nakhodka Telecom offers local, long-distance and international fixed line services, entering the internet service provider (ISP) market in nearby Vladivostok and Southern Primorye in 1998. The company is based in Nakhodka, a port city situated in Primorsky Krai, 85km east of Vladivostok. Between 1950 and 1991, when Vladivostok was closed to foreign shipping firms, Nakhodka became the primary deep water port in the Russian Far East.