ER-Telecom aims to buy Novosibirsk operator Novotelecom

20 Jan 2017

Russian multi-regional cableco ER-Telecom is looking to buy a 100% stake in Novotelecom, which operates under the Electronic City brand in the city of Novosibirsk, for a price between RUB1.1 billion (USD18.4 million) and RUB1.6 billion, having received approval for the prospective deal from the Federal Antimonopoly Service (FAS), Broadband TV News reports, quoting ComNews. Novotelecom’s network covers around 92% of the city and two neighbouring towns, offering broadband internet access, telephony and IPTV under the Electronic City brand, as well as cable TV under the ZhirafTV brand. The report adds that if ER-Telecom completes the acquisition of Novotelecom (currently owned by Cyprus-registered firm Kriseyl) it will become the leading provider of both broadband access and pay-TV services in Novosibirsk, with local market shares of around 40% and 33% respectively.

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