ER-Telecom approach for AKADO stutters

15 Oct 2013

The acquisition of Moscow-based cableco AKADO Telecom by Perm-headquartered rival ER-Telecom now looks unlikely to take place, Vedomosti reports. According to the newspaper talks between the two parties have ground to a halt, with the major stumbling block said to be the negative stance adopted by the Moscow authorities.

As previously reported by TeleGeography’s GlobalComms Database, in July this year 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 pair was brokered in June, with ER-Telecom reportedly receiving its financing from VTB bank.

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