ER-Telecom, AKADO talks extended until next month

20 Sep 2013

Russian cableco ER-Telecom has agreed to extend exclusive talks to buy Moscow-based AKADO Telecom until the middle of October. Quoting an unnamed source, Kommersant reports that although the decision was chiefly driven by ER-Telecom, Akado’s shareholders are also in favour of a period of reflection.

As previously reported by TeleGeography’s GlobalComms Database, in July this year Perm-based ER-Telecom was granted permission from the Federal Antimonopoly Service (FAS) to acquire AKADO, in a deal worth up to USD1.01 billion, including debt. A tentative agreement between the two parties was reportedly brokered in June, with ER-Telecom reportedly receiving its financing from VTB bank.

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