MegaFon shareholders vote in favour of Yota takeover

16 Sep 2013

At an extraordinary general meeting held on 12 September, shareholders of Russian mobile giant MegaFon voted their approval of the previously-revealed takeover of sister company Yota; the transaction is now expected to close later this month. Through the USD1.18 billion deal MegaFon will gain access to 40MHz of continuous spectrum in the 2600MHz frequency band, as well as inheriting Yota’s 648,000-strong Long Term Evolution (LTE) user base. Yota’s 4G network – comfortably the largest in Russia – currently covers 27% of the country’s population.

Russia, MegaFon, Scartel (Yota)