Russia's Megafon to buy 4G provider Scartel for $1.2 bln
MOSCOW Aug 8 (Reuters) - Russian mobile phone operator Megafon said on Thursday it would buy next-generation service provider Scartel for $1.2 billion.
Megafon already provides mobile broadband services using Scartel's network and the acquisition of Russia's only functioning 4G operator will further reinforce its position in this fast-growing segment of the telecoms market.
The company, which obtained clearance from the country's competition watchdog to buy Scartel last month, said the deal is expected to close at the end of September.
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