ER Telecom has completed the acquisition of Akado’s operation in the city of Yekaterinburg.
As a result, reports Kommersant, ER Telecom will increase the size of its business in the city by over than one and a half times, while Akado will be left to concentrate its activities on the Russian capital, Moscow.
ER Telecom provides internet, TV and telephony services and is the second largest broadband operator in Russia, with 3.4 million customers as of Q1 this year.
Meanwhile, Akado’s operation in Ekaterinburg has 100,000 subscribers and around 3,000 corporate customers.
In Moscow, it provides services to 3 million households and 7,000 corporate clients, as well as government entities and telco operators.
The sale of Akado’s assets in Ekaterinburg and St Petersburg is believed to be a precondition for the company being eventually acquired by Rostelecom.