ER-Telecom completes takeover of AKADO’s St Petersburg unit

17 Oct 2017

Russia’s second largest broadband operator ER-Telecom (Dom.ru) has completed the 100% acquisition of St Petersburg cableco Television Cable Network Neva (TKS Neva) from the AKADO Telecom group, ComNews reported, adding that the move will allow ER-Telecom to become the leader in the city’s cable TV market whilst strengthening its position in the broadband market. TKS Neva (currently operating under the AKADO brand) serves more than 70,000 private customers in St Petersburg alongside over 500 business clients, providing triple-play voice, TV and internet services, whilst its network infrastructure (in the Central and Vasileostrovsky districts of St Petersburg, and the Vsevolozhsk and Lomonosov districts of the surrounding Leningrad Region) is mainly concentrated in areas not covered by ER-Telecom.

The deal completion follows ER-Telecom’s purchase of another of AKADO’s regional units, in Yekaterinburg (Akado-Ekaterinburg). AKADO sold the regional assets to focus on developing its core Moscow division.

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