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VimpelCom reaches deal to acquire NTC

Russian service provider VimpelCom has reached a final agreement on the purchase of regional telco and IPTV service provider NTC.

VimpelCom must now close the first phase of the deal, involving the purchase of 90% of NTC’s shares, within four weeks, with the remaining 10% to be acquired following a mandatory offer. The transaction is expected to complete in the third quarter.

STC, which had estimated 2010 revenues of RUB3.4 billion (€85 million), offers mobile and fixed-line services, including IPTV, in the Primorsky region in Russia’s Far East.