ER-Telecom asks FAS for AKADO takeover permission

15 Jul 2013

Perm-based ER-Telecom has requested permission from the Federal Antimonopoly Service (FAS) for approval to acquire Moscow-based AKADO Telecom, the Prime business news agency has reported. Although no price has been confirmed for the takeover, a tentative agreement between the two parties was reportedly brokered in June. The FAS is expected to make a decision on the proposed merger within the next month.

According to TeleGeography’s GlobalComms Database, AKADO is majority-owned by US-based firm Moscow CableCom Corp (MOCC) which has itself been wholly owned by Russian private equity investor Renova Media Enterprises since July 2007. Renova holds a 67% stake in the business, while the telco’s chairman Yuriy Pripachkin is thought to hold the remaining 33%.

Russia, AKADO Telecom, ER-Telecom (Dom.ru)