Russia’s Rostelecom has backed out of buying the cable operator Akado from Renova.
According to Kommersant, the telco ended negotiations with the Renova group of companies after failing to agree on a price for Akado, which it still regards as an interesting asset.
The last round of talks between the two parties began in summer 2017 and it was assumed a deal would be struck after the sale of two companies owned by Akado, in St Petersburg and Ekaterinburg, with the transaction being paid for with Rostelelcom shares.
Akado has previously been a takeover target of a number of companies including Svyazinvest, MTS and MegaFon.
It is one of the leading providers of pay-TV and broadband services in the Russian capital, Moscow.