ER-Telecom and Akado owner Renova extend negotiations

Russia’s ER-Telecom and Renova, the majority owner of Moscow cable operator Akado, have extended their exclusive negotiations on the potential sale of Akado to ER-Telecom. 

The pair said that the talks on developing an “optimal model” for the relationship between ER-Telecom and Akado would be extended to the end of this year.

The extension follows a report last week in business title Vedomosti that the sale of Akado to ER-Telecom had been called off. ER-Telecom received regulatory approval for the acquisition of Akado from Russia’s competition watchdog earlier this year.