MegaFon earns FAS approval for full Scartel takeover

26 Jul 2013

Russian mobile giant MegaFon has obtained clearance from the Federal Anti-monopoly Service (FAS) regarding the potential acquisition of sister company Scartel, which offers Long Term Evolution (LTE) services under the ‘Yota’ brand. Previously, in June this year MegaFon CEO Ivan Tavrin confirmed that Uzbek billionaire Alisher Usmanov – the controlling shareholder in both companies – had agreed to sell Scartel ‘at cost’ if the deal received regulatory approval.

According to TeleGeography’s GlobalComms Database, Garsdale Services Investment Limited, which is 82%-owned by Usmanov, owns 50% (plus one share) in Scartel. The deal for Usmanov to take control of Yota was approved by the Federal Antimonopoly Service (FAS) on 15 June 2012. Meanwhile, Usamnov’s AF Telecom holding company also holds a 50% stake (plus 100 shares) in MegaFon.

Russia, MegaFon, Scartel (Yota)