MGTS planning to buy Rinet

16 Mar 2018

Moscow fibre broadband network operator MGTS, part of Mobile TeleSystems (MTS), is negotiating the purchase of one of the capital’s oldest ISPs Rinet, according to Vedomosti citing industry sources. The board of directors of MGTS has already approved the plan to acquire Rinet – launched in 1995 – according to the paper’s sources. Rinet (registered company name Kronix Plus) is currently 60/40 owned by Sergei Ryzhkov and Viktor Losev, with estimated revenue of RUB539 million (USD9.4 million) in 2016 according to SPARK-Interfax, and roughly 35,000 subscribers (around 20% corporate) in the Central Administrative District of Moscow.

Russia, Mobile TeleSystems (MTS), Moscow City Telephone Network (MGTS)