The Russian cable operator ER Telecom has bought the St Petersburg-based b2b operator Direct Telecom for a fee believed to be in the region of R350-400 million (€5.03-5.75 million).
According to Vedomosti, the acquisition was undertaken through West Call, which is controlled by Perm-based ER Telecom Holding.
Quoting Andrey Kuzyaev, the main owner of ER Telecom, it adds that the company is preparing for more acquisitions and could spend as much as R8 billion this year, compared to R5.5 billion in 2016.
ER Telecom is one of the leading cable operators in Russia, with a strong presence in the regions.
