Spoils to the Viktor: AKADO now 100% owned by Vekselberg’s group

12 Jul 2017

Russian billionaire Viktor Vekselberg’s Renova group has acquired the remaining 25% in Moscow-based cable broadband operator AKADO to take its ownership to 100%, ComNews reports. The 25% stake was sold by a founding shareholder, Yuri Pripachkin, for an undisclosed price, although analysts quoted in the report put the cost at between RUB6.4 billion and RUB8.5 billion (USD105 milllion-USD140 million). The report added that Renova taking 100% of shares in AKADO would be seen as beneficial in any upcoming merger talks with other major Russian telecoms operators; AKADO has intermittently discussed potential mergers with rivals, but talks have not resulted in a deal to date.

Russia, AKADO Telecom