ER-Telecom and Rostec take majority control of AKADO

12 Jan 2022

Major Russian fixed broadband network operator ER-Telecom and state-owned industrial conglomerate Rostec have jointly acquired a majority stake in Moscow-based triple-play cableco AKADO, the companies announced yesterday. ER-Telecom and Rostec took a 75%-minus-one-share stake in AKADO Holding, with existing shareholder Maxim Mayorets’ AVK Investments retaining the other 25%-plus-one-share, while Viktor Vekselberg’s private equity investment vehicle Renova has now exited AKADO’s ownership.

ER, Rostec and AVK intend to create a platform for the development of digital technologies, including 5G wireless communications, IoT, smart city systems, video analytics, data centres and others, and will promote new telecoms solutions for private users, corporate clients and the public sector, a press release declared. ER’s president Andrey Kuzyaev stated: ‘Investments in AKADO are part of our development strategy in the Moscow and Moscow Region markets. The creation of a strategic partnership with Rostec and AVK Investments will bring a new quality of service, new digital products, contribute to the transformation of AKADO Telecom into a digital technology company and ensure its outrunning growth in the capital market.’

TeleGeography’s GlobalComms Database notes that AKADO – with a dual focus on the consumer and business/public sector markets – claims to cover 75% of buildings in metropolitan Moscow with its fibre-fed DOCSIS 3.0/Ethernet cable broadband access network, and also serves 50 towns in Moscow Region within a 50km radius of the capital.

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