MTS acquires Tatarstan cable TV leader

Russian service provider MTS has acquired 100% of the capital of Tatarstan cable TV leader TVT.

MTS acquired TVT, which provides cable TV, broadband internet and telephony services to 15 cities across the republic, for approximately US$163 million (€117 million) excluding net debt of about US$17 million.

TVT has about 500,000 subscribers, with a 71% share of the TV market in Kazan, the capital, and a 55% share in Naberezhnye Chelny, Tatarstan’s second city. The company has a 13% share of the broadband market in Kazan, 19.5% in Naberezhnye Chelny and 18.55 in Nizhnekamsk, in southern Tatarstan.