The Russian cable operator Akado plans to raise up to R3.5 billion (€53.8 million) in a bond issue.
According to Vedomosti, it will use the money to develop its business in Moscow, where it sees potential for growth, particularly in the pay-TV sector.
However, it is also developing in other areas, including the retail segment, where it attaches great importance to the launch of hybrid TV and modern interactive services. In addition, it is actively involved in the development of communications infrastructure in state projects, as well as expanding into such areas as the IoT.
Data produced by TMT Consulting shows that Akado had over 708,000 broadband subscribers in Moscow as of the end of Q3, placing it in third place behind MGTS and Rostelecom. It also had 1.08 million pay-TV subscribers and it total claimed a 17% market share for these services in the Russian capital. The latter figure has remained unchanged this year.
As a whole, the broadband and pay-TV penetration figures in Moscow stand at 92% and 90% respectively.
