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Comstar-UTS posts increased revenue, strikes deal with youth channel

Russian service provider Comstar-UTS posted second-quarter revenues of US$411.1m (€325m), up 6% year-on-year in ruble terms, and adjusted operating income before depreciation and amortisation of US$164.5m, up 2% year-on-year.

Adjusted net income attributable to shareholders was up 47% year-on-year in ruble terms to US$48.8m.

The quarter saw the conclusion of an agreement between Comstar and mobile telco MTS to merge the two companies, with MTS taking a 9% stake in Comstar. Comstar also announced the acquisition of Penza Telecom, the leading  internet and pay-TV provider in Penza and Zarechye.

Separately, Comstar-Regions, the company’s subsidiary for regions outside Moscow, has struck a deal with Russian youth channel 02TV to carry the service in 24 cities including Ryazan, Orel, Saratov, Astrakhan, Sochi, Rostov-on-Don, Yekaterinburg and Perm.

Comstar has also announced that its FON WiFi user base now numbers 10,000. FON members can connect to WiFi points provided by fellow members in Russia and around the world.