The sale of the Russian cable operator Akado to MegaFon appears to have hit yet another obstacle, with the latter’s board failing to approve the deal.
Kommersant reports that a vote on the matter is now likely to take place in the next few days.
By acquiring Akado, MegaFon would become the leading provider of broadband services in Moscow, with a market share of 30.9%, ahead of both MTS (27.7%) and Vimpelcom (20.1%).
At present it is in fourth place with a 10% share through the ISP NetByNet, which it bought this summer.
In Russia as a whole, MegaFon would become the fifth leading provider of broadband services and fifth largest pay-TV operator, with market shares of 3.8% and 5% respectively, should it buy Akado.