June 5, 2013 / 6:35 AM / in 5 years

Russia's MTS eyes internet provider Akado - report

MOSCOW, June 5 (Reuters) - Russian telecoms operator MTS is in talks to acquire Akado, a major broadband and cable television provider, in a drive to expand its footprint in the Moscow region, the Kommersant daily reported on Wednesday.

Akado is majority owned by Russia’s tycoon Viktor Vekselberg’s Renova Group and businessman Yuri Pripachkin.

“MTS has officially sent an offer to the Akado shareholders, it is being discussed,” the paper quoted a telecoms market source as saying. The paper also said that Akado’s owners valued the company at over $1 billion a year ago.

MTS declined comment. Akado was not immediately available.

If an acquisition is completed, MTS would take control of more than 50 percent of the broadband and pay-TV market in Moscow. Vimpelcom controls 22.7 percent, the paper says.

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