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MegaFon OAO Intends To Acquire Scartel And Yota From Garsdale


Thursday, 8 Aug 2013 02:31am EDT 

MegaFon OAO announced that it has an intention to acquire Scartel and Yota from its majority owner Garsdale at an equity value of USD 1.18 billion. Scartel and Yota own a nationwide 4G/LTE spectrum consisting of 2x30 MHz in the 2.5-2.6 GHz frequency band. It also owns a 4G/LTE network covering approximately 27% of the Russian population and provides 4G services to more than 600,000 subscribers. Scartel and Yota are controlled by Garsdale which also owns the majority of MegaFon (50% plus 100 shares). In connection with the proposed acquisition, Deutsche Bank has acted as financial advisor to TeliaSonera and provided a fairness opinion to the board of directors of TeliaSonera. White & Case has acted as legal counsel to TeliaSon 

Company Quote

61.3
0.35 +0.57%
7:07am EDT