Garsdale

TeliaSonera backs Megafon’s Yota acquisition

Russian operator Megafon has announced that it is to acquire domestic competitor Scartel, which operates an LTE network under the Yota brand, for $1.18bn. TeliaSonera, which holds 25.2 per cent of Scartel described the deal as “strategically attractive and value enhancing” for Megafon. Scartel is currently owned by Garsdale, a holding company of Russian billionaire Alisher Usmanov, who also controls more than 50 per cent of Megafon.

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