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MegaFon to look again at Akado

Russian mobile operator MegaFon will look again at the possible acquisition of cable operator Akado later this month after failing to agree on a price in previous negotiations, according to local reports.

According to business daily Vedomosti, citing sources close to the company’s board, in July MegaFon discussed the possible acquisition of Akado for an initial US$950 million (€660 million) or US$600 million net of debt, but this price was too high for MegaFon’s 43.77% shareholder TeliaSonera and 25.1% shareholder Alfa Group.

Tags: Akado, MegaFon, Russia