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TTC acquires Magnitogorsk operator

Russian service provider TTC has acquired Magnitogorsk operator Maginfo for US$40 million (€30 million). 

According to TTC, Maginfo customers will be able to retain their current terms of service.

TTC vice-president of strategic development Shukhrat Ibragimov said that Maginfo was one of the leading service providers in the Chelyabinsk region. He said that Maginfo had a 63% share of the broadband market in Magnitogorsk and a 61% share of the cable TV market, with about 60,000 customers. Maginfo has built a fibre-to-the-building network in the city that passes about 140,000 homes.