The Russian telco MTS has acquired a 100% stake in Altair, a company that provides cable and broadband internet services in the city of Tula, for R680 million (€16.25 million).
MTS posted the highest revenues amongst companies providing telco services in Russia last year. However, the cable operator E-R Telecom enjoyed one of the highest growth rates.
Russia’s MTS has launched a commercial mobile TV service covering the entire country.
MTS may be about to further strengthen its position in the Russian cable marketplace by acquiring what is the country’s largest independent ISP.
Russia’s MTS ended 2010 with 2.753 million pay-TV subscribers, or 30% more than a year earlier.
The Russian cable operator Multiregion ended the third quarter with 620,000 pay-TV and 266,000 broadband internet subscribers.
Russia’s MTS has completed the acquisition of the cable operator Multiregion for a fee of $123.5 million (€95.5 million).
Consolidation in Russia’s cable industry is gathering momentum, with MTS set to buy Multiregion within the next two weeks.
The boards of Russia’s MTS and Comstar have given the go ahead to the merger of the two companies. As a result, Comstar, which is already 61.97% owned by MTS (64.03% excluding treasury shares) will be subsumed into the latter and cease to exist as a separate legal entity.
Russia may be about to see significant consolidation in its regional cable networks.