Russian service provider ER-Telecom has completed the acquisition of rival service provider Akado’s Yekaterinburg operation, giving it a stronger position in the Ekaterinburg broadband access and pay TV market.
ER-Telecom said that the change would not affect subscribers, as all existing contracts and services would remain in place. ER-Telecom will also retain the use of the Akado-Ekaterinburg brand.
Akado-Ekaterinburg serves about 100,000 customers and 3,000 businesses in Ekaterinburg and the Sverdlovsk region with broadband internet, telephony and TV.
ER-Telecom president Andrei Kuzyaev said that the acquisition was in line with its policy of increasing its penetration through a mix of organic growth and mergers and acquisitions.
ER-Telecom was given a green light by the Russian Federal Antimonopoly Service in august to acquire Akado’s Ekaterinburg and St Petersburg operations.
ER-Telecom has yet to finalise the acquisition of the St Petersburg operation, Neva Cable Television Network.
Akado CEO Sergei Nazarov said that following the sale of the Ekaterinburg operation the company would focus on developing its business in the Moscow region.
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17 September 2021 @ 19:30:00 UTC