SMARTS Group agrees deal to offload units to Vimpelcom (Beeline)

24 Nov 2014

The Russian the Federal Antimonopoly Service (FAS) has rubber-stamped a deal under which regional mobile operator SMARTS Group will sell two of its subsidiaries to Vimpelcom (Beeline), Telecompaper reports without citing its sources. Under the plan, SMARTS Group intends to divest 100% of regional cellco Astrakhan GSM, which reported revenue of RUB316 million (USD6.9 million) in FY 2013, and a 61.67% stake in SMARTS Cheboksary, which generated RUB106.5 million of the Group’s total RUB1.338 billion turnover. The remaining 38.33% of SMARTS Cheboksary is owned by Cyprus-based Bolaro Holdings. Upon completion of the deal SMARTS Group will still have an active presence in ten major Russian area, namely: Samara, Ivanovo, Penza, Saratov, Ulyanovsk and Yraloslavl regions, and Bashkortostan, Kalmykia, Mariy-El and Mordovia republics.

Russia, Beeline (Russia), SMARTS Group