Megafon To Buy Russian 4G Provider In $1.8B Deal

Law360, New York (August 8, 2013, 3:21 PM EDT) -- Megafon OJSC, the second-largest mobile phone company in Russia, has agreed to buy 4G network operator Scartel from Megafon's controlling shareholder in a deal valued at $1.8 billion including debt, as it looks to corner the country's high-speed Internet market, Megafon said Thursday.

The deal, which calls for Megafon to pay $1.2 billion to Garsdale Services over two years and assume roughly $600 million in Scartel debt, would give Megafon a broadband advantage over Russian telecommunications competitors MTS OJSC and Vympelcom OJSC. Scartel is the only...
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